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Hyundai, Now the No. 3 Carmaker, Takes Aim at Toyota and Volkswagen

  • Electric vehicles, luxury Genesis brand seen fueling growth
  • South Korean automaker planing at least 17 EV models by 2030
Bloomberg business news
WATCH: Hyundai Motor Co., President and co-Chief Executive Officer Jaehoon Chang speaks with Bloomberg’s Reed Stevenson.Source: Bloomberg

The world’s third-largest carmaker isn’t from the US, Japan or Europe, at least not anymore. It’s South Korea’s Hyundai Motor Co.

While Toyota Motor Corp. and Volkswagen AG vie each year for pole position atop the global automobile industry, Hyundai has quietly slipped in behind them, surpassing General Motors Co., Nissan Motor Co. and Stellantis NV in annual volumes along the way.