Hyundai Motor Sets Target Before Yoon: "1.08 Million Exports This Year, 29% Up from 3 Years Ago"

Hyundai Motor Company announced to President Yoon Suk-yeol, who visited the Ulsan plant on the 9th, that "this year, we plan to produce 1.85 million vehicles domestically and export 1.08 million vehicles." This is the highest level since 2020, when the COVID-19 pandemic first emerged.

On the morning of the same day, President Yoon visited the Hyundai Motor plant after attending the groundbreaking ceremony for the Ulsan petrochemical facility and a meeting with business leaders. Hyundai Motor's Ulsan plant is considered the world's largest single complete vehicle production facility. The domestically unique model Pony and the world's first mass-produced hydrogen electric vehicle were also produced here. It is equipped with a dedicated dock capable of shipping up to 1.1 million vehicles annually.

President Yoon Suk-yeol visited the export shipment dock at Hyundai Motor Company's Ulsan plant on the 9th and is listening to an explanation from Chung Eui-sun, Chairman of Hyundai Motor Group.

Last year, the company produced 1,732,317 vehicles and exported 1,009,025 vehicles. Production increased by 6.9%, and exports rose by 9.9%. Among these, the Ulsan plant produced 1,424,141 vehicles and exported 935,590 vehicles. This year's target represents a 14.3% increase in production and a 28.7% increase in exports compared to 2020.

The company also revealed plans to develop the Ulsan plant as a global future car hub. Hyundai Motor Group announced a plan to invest 21 trillion won in the domestic electric vehicle sector by 2030 and produce 1.44 million electric vehicles domestically, accounting for 45% of the global electric vehicle production volume.

While expanding domestic electric vehicle production capacity centered on the Ulsan plant, the company plans to gradually reorganize aging production bases. Considering electrification and manufacturing technology innovation, they also plan to newly hire and nurture technical personnel focused on specialists. President Yoon and Chairman Chung boarded a car carrier together, discussing the exported vehicles loaded and the current status.