- Hyundai to transition into Smart Mobility Solution Provider by 2025 with two pillars
- Smart Mobility Device will expand beyond automobiles to include Personal Air Vehicle (PAV), robotics, last-mile mobility
- Smart Mobility Service will offer personalized services and contents on integrated platform
- Hyundai announces a set of strategic goals
- achieve balanced and steady growth
- boost profitability with enhanced customer value and cost structure innovations
- sell 670,000 BEVs and FCEVs annually; become top three EV manufacturer by 2025
- offer most new models with EV drivetrain by 2030 in major markets, 2035 in emerging markets
- Hyundai identifies financial targets
- Invest KRW 61.1 trillion into R&D and future technologies through 2025
- Target operating margin of 8% in automotive business, 5% market share by 2025
- Buy back KRW 300 billion shares from market through February 2020
SEOUL, South Korea, Dec. 4, 2019 /PRNewswire/ -- Hyundai Motor Company today announced a bold roadmap to secure its position as a frontrunner in the future mobility industry.
Under the new roadmap, named Strategy 2025, the company will foster Smart Mobility Device and Smart Mobility Service as two core business pillars, and the synergy between the two pillars is expected to facilitate the company's transition into a Smart Mobility Solution Provider.
The Smart Mobility Device business will supply products optimized for the services and lay the groundwork to help foster the service business. On the other hand, the Smart Mobility Service business will provide personalized contents and services on the devices to help secure a broader customer base.
Hyundai's plans for Smart Mobility Device include a wide range of product groups beyond automobiles such as Personal Air Vehicle (PAV), robotics, and last-mile mobility. Hyundai will reinforce its manufacturing capabilities to build products that offer customers a seamless mobility experience.
*Hyundai will develop Urban Air Mobility platform business by combining PAV and mobility services.
Smart Mobility Service is a new area of business for Hyundai that will be fostered as a key strategic pillar for future businesses. Services and contents will be personalized and offered through an integrated platform to maximize value for customers.
The two pillars sit atop three key directions that the company has defined: enhancing profitability in internal combustion engine vehicles, securing leadership in vehicle electrification, and laying the groundwork for platform-based businesses.
Continue reading on Hyundai's website: http://globalpr.hyundai.com
SOURCE Hyundai Motor Company