Hyundai Motor Group Jeong Ui-seon (Chairman) visits Brazil plant... reviews medium-to-long-term growth strategy

*This content was translated by AI.

On the 27th (local time), Hyundai Motor Group Jeong Ui-seon (Chairman) visited the Hyundai Motor Brazil plant located in Piracicaba, São Paulo State, Brazil, to review on-site production and sales strategies. As part of a Korean economic delegation accompanying the presidential state visit to Brazil, Jeong Ui-seon (Chairman) discussed response measures for mobility and clean energy sectors amid intensifying local competitive conditions.

Brazil is the world's sixth-largest automotive market with an annual industry demand reaching 2.5 million units, and a powerhouse in key resources such as rare earth elements and graphite. Recently, the Brazilian government has introduced the 'Green Mobility Innovation (MOVER)' program as part of its decarbonization policy and raised tariffs on electric vehicles to promote local production investments. At the same time, Chinese automakers are expanding their local investments and rapidly increasing their market share.

In response, Hyundai is advancing the introduction of Brazil-exclusive eco-friendly vehicles and building a hydrogen business foundation. The company is strengthening local development capabilities at its R&D center for Latin America and accelerating the development of ethanol-gasoline blended fuel-based HYBE lead vehicles (FFV-HEV) tailored to Brazil's fuel ecosystem. Additionally, it is exploring new businesses in hydrogen mobility and renewable energy while planning to continuously expand its SUV LINE lineup through 2030.

In the first half of this year, Hyundai sold a total of 967,233 units in the Brazilian market, achieving its highest sales performance for the first half since 2019. This represents a 12.1% increase compared to the same period last year, with a market share of 7.1%, maintaining the brand's fifth-place ranking. Sales are led by local strategic models HB20 and Creta, and Hyundai plans to secure sales leadership in the B-segment compact car category through the i20 launched in June.

Meanwhile, the Hyundai Motor Brazil plant recently received certification as an 'Excellence in Ethical Management' company from Brazil's Federal Board of Audit and Inspection and has been selected by global institutional investors as a 'Great Place to Work' for nine consecutive years. The plant is also carrying out sustainable social contribution activities, including the Ioniq Forest reforestation program for tropical rainforest restoration and free dental care support for local children.

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*This content was translated by AI.