Hyundai commits to North America with localisation plan for competitive supply chain
Hyundai is accelerating its localisation in North America over the next four years, planning to launch 36 new or significantly enhanced vehicles in the US, Canada and Mexico by 2030.
José Muñoz, president and chief executive officer of Hyundai Motor Company announces further localisation in North America
Source: Hyundai
Hyundai is significantly expanding its localisation in North America over the next four years as a strategy for competitive advantage, through launching 36 new or improved models. The models will be a mix of ICE, EV and hybrid vehicles across
passenger cars, SUVs, trucks and commercial vehicles.
The announcement highlights the importance of North America
for Hyundai. It builds on the OEM’s previously
announced $26 billion investment in the US, which includes a new steel mill
in Louisiana and a robotics innovation hub, which the carmaker said will
strengthen its manufacturing and technology footprint in North America.
An
additional commitment to the region lies in Hyundai’s local assembly targets.
The OEM is aiming to have more than 80% of vehicles sold in the US to be assembled
domestically by 2030, while simultaneously increasing US supply chain content
from approximately 60% to 80%, reinforcing the region’s resilience and
efficiency through localised sourcing.
José Muñoz, president and CEO, Hyundai said: “By expanding
our product portfolio and offering a wider range of powertrains in North America,
we’re giving customers more choice while continuing to strengthen our long-term
investment in US manufacturing, jobs, and the broader automotive ecosystem.”
The cash injection to production and localisation in North
America was announced when the US began implementing its America First policies,
including
hiking tariffs on imports.
In a statement, Hyundai said: “Together, Hyundai’s expanded
North American product lineup, growing US production footprint, and increased
parts localisation position the brand for sustained growth, greater flexibility,
and stronger alignment with customer priorities across the US, Canada and
Mexico.”