Hyundai Motor Company has revealed plans to launch its first Extended Range Electric Vehicle (EREV) in 2027, offering an impressive driving range of more than 600 miles.
The announcement was made during the company’s 2025 CEO Investor Day, where Hyundai outlined its ambitious 2030 vision and product roadmap.
EREV: A Bridge to Full Electrification
The introduction of EREV technology marks a key milestone in Hyundai’s electrification journey.
Unlike traditional EVs, EREVs are designed to extend driving range significantly, providing customers with greater flexibility and confidence during the transition to full battery-electric vehicles.
This innovation aims to tackle one of the biggest challenges facing EV adoption—range anxiety.
Hyundai confirmed that the EREV will join its wide range of electrified vehicles, which are projected to reach 3.3 million units annually by 2030.
This includes 18+ hybrid models and a comprehensive EV lineup, ensuring the company remains competitive in diverse global markets.
Global Expansion and Regional EVs
Alongside the EREV launch, Hyundai is also preparing region-specific EVs:
IONIQ 3 tailored for Europe
China-produced Elexio and a new electric sedan
These models highlight Hyundai’s strategy to adapt to market-specific needs while pushing forward its global electrification agenda.
Manufacturing Growth and Technology Investments
Hyundai announced a Phase 2 expansion of HMGMA, adding 200,000 units of production capacity by 2028 with a $2.7 billion investment.
The company also plans to integrate Software-Defined Factory (SDF) systems to increase global production by an additional 1.2 million units.
On the technology front, Hyundai is developing next-generation batteries and will roll out a cloud-based battery management system from 2026 to enhance cost efficiency and durability.
Luxury Brand Genesis Embraces Electrification
Hyundai’s premium brand, Genesis, will also adopt EREV, hybrid, and BEV powertrains across its full range, including its flagship SUV.
Genesis is targeting 350,000 global sales by 2030, further solidifying its position in the luxury EV segment.
Financial Targets
Hyundai has raised its 2025 financial guidance with 5–6% revenue growth, an operating profit margin of 6–7%, and an overall KRW 77.3 trillion investment plan by 2030 to support electrification, advanced technologies, and manufacturing expansion.