Hyundai's Bold Truck Move, Local Production Push
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Hyundais North America CEO, Randy Parker, is aiming for a sixth consecutive year of record US sales, following five successful years. At the New York International Auto Show, Hyundai unveiled the Boulder concept, a rugged SUV, signaling a shift from sedans to tough rides. The company plans to introduce a midsize pickup truck by 2030, built in the US with steel from a new Louisiana plant. Hyundai aims to launch thirty-six new vehicles in North America this decade to gain more market share. The Boulder concept received positive feedback, showcasing Hyundais readiness to compete in the truck market. To mitigate tariffs and supply issues, Hyundai is investing in local production, with a $12.6 billion Metaplant in Savannah, Georgia, creating 8,700 jobs. Sales of hybrids and the IONIQ five electric have surged in the first quarter, despite the absence of tax credits. With localization reaching 80% by 2030, Hyundai is well-positioned to meet customers needs as they transition to electric vehicles, regardless of future trade challenges.
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