Hyundai unveiled a rugged SUV concept and talked up plans for a US-made midsize pickup truck, declaring its intention to take on Detroit’s profit centre.
The South Korean automaker on Wednesday said so-called body-on-frame vehicles – which offer a rougher ride but greater towing capacity – would be key for its US strategy, part of a big investment in the world’s second-largest car market.
The company reiterated plans to build a body-on-frame pickup for the US by 2030, using local steel that its parent company will manufacture in Louisiana.
“We know this is a highly competitive space and we’re not taking this lightly,” Randy Parker, chief executive officer of Hyundai’s North America business, said at an event tied to the New York International Auto Show.
Hyundai is counting on the US to be the engine of its global sales ambitions. It’s been ramping up its US investment in the face of intensifying Chinese competition and to offset tariff costs that took a bite out of profit last year.
It grew to become the US’s fourth-biggest carmaker by sales last year, with an 11.3% share, and has pledged to invest $26 billion (around R430 billion) in the US through 2028.
Hyundai and sibling brand Kia will introduce 58 new or refreshed models across the US, Mexico and Canada between now and 2030, and Hyundai is seeking to build 80% of its US sales in the country by 2030, and increase US content to 80%, CEO José Muñoz told investors last month.
In addition to the SUV concept called the Boulder unveiled Wednesday, Hyundai had earlier shown off Crater, a rugged electric SUV variant of its XRT lineup at the Los Angeles auto show in November.
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