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Hyundai to expand US production, push hybrids and an extended-range EV
The plan includes raising annual North America capacity by 500,000 units by 2030, with the Santa Fe EREV due in the first half of 2027.
Hyundai CEO Carlos Muñoz said at the company’s 2026 CEO Investor Day that Hyundai will increase how many vehicles it builds in the United States, aiming to stock American showrooms with new hybrid models and its first extended-range EV, the Santa Fe midsize SUV EREV.
The company plans to bring more than 100 new models to market by 2030 with multiple powertrains, while targeting an operating margin above 9 percent. Hyundai also said it will add 500,000 units of annual capacity in North America by 2030, part of a broader expansion totaling 1.27 million units globally.
Hyundai said the Santa Fe EREV will be due in the first half of 2027 and will be built at Hyundai Motor Manufacturing Alabama, and that the vehicle will use a battery plus an onboard charger for more than 600 miles of range. The automaker also set a higher US local-parts sourcing target of 80 percent, up from 60 percent.
Hyundai’s hybrid focus includes offering more than 10 hybrid models in North America by 2030, targeting a 50 percent hybrid sales mix, with production planned at sites in Alabama and Georgia. The push comes after Hyundai reported record first-half North America sales of 595,457 units, and said US sales rose 3 percent to 489,656 units, led by the Tucson and Palisade, with the all-new Tucson and Tucson Hybrid arriving in the fourth quarter.