Hyundai confirms plans for new pickup, affordable EVs, and a 600-miles EREV

Hyundai was never the one to just dip its toes into the future of cars. Instead, the company is planning a cannonball dive. During the investor meeting held in New York, the South Korean automaker laid out one of the most comprehensive and aggressive growth strategies the industry has seen.

The plan is a multi-front assault that includes a flood of new electric cars, a major push into hybrids, a brand-new midsize pickup truck for America, and a new type of electric vehicle designed to eliminate range anxiety for good.

Truck buyers in the United States have always had a consistent, if limited, set of choices. Hyundai plans to shake that up by introducing its first true midsize pickup truck by the end of the decade. The company currently offers the compact Santa Cruz, but this new model is being designed to compete directly in "the heart of the US market."

To support this and its other North American goals, Hyundai is doubling down on its US manufacturing. The company announced a fresh $2.7 billion investment into its Metaplant America facility in Georgia, which will create an additional 3,000 jobs. By 2028, the plant is expected to produce 500,000 EVs and hybrids annually, with Hyundai targeting over 80% of its US-sold vehicles to be made domestically by 2030.

The new pickup is already grabbing headlines in America, but Hyundai's plans span the globe with a region-specific approach. European customers, who prefer smaller vehicles, will soon experience the new Ioniq 3, previewed by the Concept Three revealed in Munich. It will be a smaller and more affordable sibling to the popular Ioniq 5 and will come with a next-generation infotainment system.

For the highly competitive Chinese market, Hyundai already has the Elexio, its first locally produced electric SUV. This EV uses technology and software from leading Chinese companies to better compete with domestic giants like BYD.

The most intriguing part of Hyundai's announcement is its plan to tackle range anxiety with a new extended-range electric vehicle (EREV), set to arrive in 2027. This vehicle promises an EV-like driving experience with a total range of over 600 miles.

Unlike a traditional hybrid, an EREV uses its electric motor for propulsion, and a small, efficient gasoline engine acts as an onboard generator to recharge the battery when needed, but never to directly power the wheels. Hyundai claims its in-house battery technology will allow this system to deliver full EV performance with a battery less than half the size of a comparable long-range electric car.

The company is also expanding its high-performance "N" brand, with plans to add seven new models by 2030. The goal is to sell 100,000 N-branded vehicles annually by that time, led by flagship electric cars like the new Ioniq 6 N, which Hyundai says introduces a "new paradigm for high-performance EVs."

On the opposite end of the spectrum, the luxury Genesis brand is also getting a major expansion for its 10th anniversary. The centerpiece will be a new flagship electric SUV, expected to be called the GV90. Prototypes have been spotted with ultra-luxury features, including rear-hinged coach doors.

Behind all these new models is a set of ambitious numbers. Hyundai believes it can sell 5.55 million vehicles globally by 2030. Of that total, the company projects that 3.3 million, or nearly 60%, will be "electrified." This term is key, as it includes more than just pure EVs. The plan also talks about 18 new hybrid models across the Hyundai and Genesis lineups.

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