Hyundai Motor Company CEO José Muñoz detailed the company's growth strategy in the U.S. and introduced the new Genesis GV90 all-electric SUV.
The expansion signals a shift toward deeper localization of the company's supply chain and a push into the high-end electric vehicle market. By increasing domestic production, Hyundai aims to reduce reliance on imports and better align with regional consumer demands.
Muñoz said the Genesis GV90 is the company's most luxurious SUV to date. The all-electric flagship vehicle is designed for versatility and high capacity, with the ability to accommodate up to seven seats [1]. This launch is part of a broader North American strategy that includes 58 vehicle updates [4]. Of those updates, 22 are specifically for the Genesis luxury brand [5].
A central pillar of the company's strategy is the aggressive increase of local manufacturing. Hyundai aims to produce at least 80% of the vehicles it sells in America locally by the end of the decade [2]. This represents a significant increase from 2024, when the local production share was approximately 40% [3].
While the U.S. remains a primary focus, the company is also expanding its global footprint. Hyundai announced a US$5 billion investment plan for India to bolster its presence in that market [6].
Muñoz said the combination of luxury electric offerings and localized manufacturing is essential for the company's long-term competitiveness in the North American market.
“Hyundai aims to produce at least 80% of the vehicles it sells in America locally by the end of the decade.”
Hyundai's pivot toward an 80% local production target suggests a strategic hedge against potential trade volatility and a desire to capitalize on domestic EV incentives. By pairing this infrastructure growth with the launch of the GV90, the company is attempting to move upmarket, challenging established luxury EV incumbents while securing its supply chain within the U.S. border.
