Hyundai Motor Co. has made important steps over the past year to reposition itself as a leading electric vehicle maker.
By 2030, Hyundai Motor Group expects half of its U.S. sales to be EVs. The Hyundai brand is enjoying early success with its two dedicated EVs — the Ioniq 5 crossover and the Ioniq 6 sedan. Its revamped second-generation Kona EV goes on sale this year offering shoppers a more affordable option in the compact crossover segment.
The group is making large EV investments in the U.S. with its $5.5 billion Metaplant, now under construction near Savannah, Ga. Six battery-powered models will be built at the complex, which will have the capacity to churn out 300,000 EVs to start.
For now, Hyundai's mix of electrified offerings in the Santa Fe and Tucson crossovers and the Sonata and Elantra sedans is helping boost its market share of green products. The Tucson has plug-in and conventional hybrid variants, and the sportier N Line trim level is moving to a hybrid powertrain for 2024. Though the plug-in will be dropped from the Santa Fe lineup, a hybrid model will still be offered. The Sonata and Elantra, which both have hybrid and gasoline options, are also due for a freshening this year.