Climate Policy Engagement: Hyundai receives a grade of D+ in InfluenceMap’s assessment of corporate engagement on climate policy, indicating misalignment with policy to deliver the Paris Agreement.
Forecasted 2030 Production: 40% of Hyundai's light-duty vehicle production in 2030 is forecast to be electric vehicles (39% battery electric vehicles (BEVs), 1% plug-in hybrids, and 0% fuel cell electric vehicles (FCEV)). This compares negatively to the IEA’s 1.5°C scenario, which estimates that 66% of all car and van sales must be electric (BEV, PHEV or FCEV) by 2030 to meet a 1.5°C global temperature goal.
Climate Lobbying Overview: Hyundai Motor Group has mostly negative engagement globally in 2022-24. While Hyundai Motor has stated support for the goals of the Paris Agreement, it has negative engagement with numerous key regulations to decarbonize road transport in the US and EU, with evidence of more positive engagement in Australia in 2024. For example, Hyundai opposed the US federal light-duty GHG emissions standards and corporate fuel economy (CAFE) standards. It displays comparatively less active engagement in its headquartered country, South Korea.
The full climate policy engagement profile of Hyundai Motor Group is available here.
Internal decarbonization targets: Hyundai Motor plans to achieve carbon neutrality across all operations by 2045. According to the company’s 2023 sustainability report, Hyundai plans to achieve 100% electrification in the European market by 2035, and 100% electrification for all major markets by 2040, and to “accelerate electrification” for emerging markets in 2045. Hyundai Motor's subsidiary, Kia, has aligned with these targets, except for a target for total electrification in all markets by 2045. Hyundai aims to have 36% of its global sales (including Genesis) be ZEVs by 2030 and Kia aims to have ZEVs be 30% of global sales.
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Hyundai's forecasted fleet composition by technology: The IEA determined in its 2023 1.5C road transport scenario that 66% of all light-duty vehicle sales must be electric (battery electric vehicles, fuel cell electric vehicles and plug-in hybrids) by 2030 to meet the Paris Agreement’s 1.5°C goal. Globally, Hyundai’s 2030 production forecast is misaligned with the IEA’s scenario. In 2030, Hyundai is forecast to produce 40% electric vehicles (39% BEVs, 1% PHEVs and 0% FCEV), 20% ICE-powered hybrids and 40% combustion engine.
Hyundai’s forecasted vehicle size: Larger vehicles are a significant cause of increased GHG emissions from road transport, with smaller vehicles across different technologies generally producing fewer emissions. Hyundai’s 2023 combined percentage proportion of SUVs and light commercial vehicles is approximately 62%, however this proportion is projected to increase to 65% through 2030.
Hyundai's electric vehicle production compared: 40% of Hyundai’s vehicles produced in 2030 are forecast to be electric (battery electric vehicles, plug-in hybrids or fuel cell electric vehicles), compared to an average of 53% for all automakers.
