Hyundai and Genesis to launch 41 new cars in Europe by 2030
Hyundai Motor and its Genesis premium division have pledged to launch 41 new or refreshed models in Europe by 2030, aiming to quadruple electric vehicle sales in the region despite intense competition from Chinese brands.
Hyundai Motor, together with its premium Genesis division, has committed to launching 41 new or refreshed models in Europe by 2030, a significant bet on a region that other Asian manufacturers have started to deprioritise. The announcement was made by company executives during the annual investor day on August 26, outlining a strategy that includes a new region-specific small electric SUV, an electric midsize SUV, and new commercial vehicles.
The South Korean automaker aims to sell more than 420,000 electric cars annually in Europe by 2030, a nearly fourfold increase from the 116,000 units expected in 2025. This push is designed to close the widening sales gap with sister brand Kia, which has moved faster on electric launches. The first step in this acceleration will be the European-built Ioniq 3 later this year, followed by the Europe-specific small SUV.
Hyundai also plans to refresh its combustion-engine lineup, which remains a crucial part of its profit strategy in the region. New models include the i20 hatchback, based on a version of the newly revealed Brazilian model, and a larger replacement for the Tucson compact SUV, the brand's best-selling vehicle in Europe. The company could also import the extended-range electric version of the Santa Fe SUV, which will be built in the United States and is promised to drive and accelerate like an EV.
CEO Jose Munoz acknowledged the difficulty of the European market, describing it as one of the most competitive regions on the planet. Car companies are struggling to match Chinese competitors on cost, particularly in electrified segments, but Hyundai says it has cut 30 percent from the battery costs of its next-generation EVs. Munoz also stressed the importance of balancing electric and traditional powertrains, noting that every EV credit earned protects the ICE and hybrid business alongside it.
Hyundai's commitment to Europe contrasts with the strategy of Japanese brands such as Nissan and Honda, which have shifted investment away from the region to focus on more profitable global markets. The company is also continuing to build its Genesis brand in Europe, despite subdued market interest since its launch in 2021, with sales currently below those of Bentley. Genesis has expanded its market coverage this year with launches in Italy, France, and the Netherlands.
Globally, Genesis will introduce a new extended-range EV model in 2027, promising a range above 640 miles thanks in part to a new high-performance battery. A hybrid version of the GV80 large SUV and the newly revealed GV90 luxury electric SUV are also planned. No official announcements have been made about markets for these products, although Europe is likely to be a target destination for the new electrified lineup.
In the United States, Hyundai will expand its market coverage with new off-road focused body-on-frame vehicles, including a pickup with styling influenced by April's Boulder concept, a take on the Jeep Wrangler and Ford Bronco.
