Hyundai is looking to make big changes and future strides by not just selling high-tech cars in the not so distant future. While the current automotive trend is focused on electrification and zero-emissions vehicles, the Korean automaker is also banking on offering personalized services, as well as have mobility solutions available for its customers.
Mirroring what Toyota has been transitioning to, Hyundai plans to be not just an automobile manufacturer. Under the company's Strategy 2025, Hyundai has announced its plan to re-orient itself as a smart mobility solution provider by the year 2025 with via two core pillars: smart mobility devices and a smart mobility services.
Under the Smart Mobility Device strategy, Hyundai will address the need for more vehicle electrification by targeting younger demographics with affordable battery-electric vehicles (BEVs). This could mean that besides offering automobiles, other forms of personal transport will be available in the future from Hyundai.
Quality innovations like AI-based connected services, fully autonomous driving, and other cutting-edge vehicle features are also planned in order to improve customer satisfaction and perception. By 2025, Hyundai aims to sell 670,000 EVs annually (560,000 BEVs and 110,000 fuel-cell vehicles).
As for the Smart Mobility Service plan, Hyundai aims at leveraging its existing customer base by providing online services linked to their vehicles. From vehicle maintenance, insurance, financing, and charging, Hyundai wants to make things easier for their customers. A mobility platform that can analyze vehicle data through car connectivity is also in the works, which can allow Hyundai to deliver tailored services to the needs of customers.
But perhaps the company's most ambitious goal is to have car-sharing and robotaxi services that can autonomously drive by themselves and ferry passengers with ease. Hyundai plans to enter the mobility service market by partnering with local players in each market. The company even plans on taking to the skies as Hyundai recently established its Air Mobility Division. They even hired a NASA aeronautics veteran to lead it.
Within these two strategic goals, Hyundai is optimistic that these will lay the foundation as the company transitions into a smart mobility solution provider. To do this, Hyundai will be investing KRW 61.1 trillion (about Php 2.610 trillion) until 2025 for research and development, as well as further exploring future technologies.
“The key to our future strategy is to focus on customers and to present the most desirable products and services. We want to offer smart mobility experiences that meet the shifting needs of our customers by leveraging advanced technology. Transforming into a Smart Mobility Solution Provider with comprehensive mobility solutions that combine devices and services will be the centerpiece of Hyundai’s future strategy,” said Wonhee Lee, president and CEO of Hyundai Motor Group.
With both Toyota and Hyundai planning at becoming bigger as mobility companies, we won't be surprised if the two will be engaged in a tight-knit rivalry in the future.