Executive Chair Chung visits Hyundai Motor Company’s plant in Piracicaba to chart local production, quality and sales strategy Hyundai Motor to strengthen its SUV lineup and develop electrified models optimized for Brazil, including an ethanol-gasoline hybrid powertrain Hyundai Motor Group to explore hydrogen mobility and renewable energy opportunities through affiliate capabilities, local R&D and academic partnerships The Group contributes to sustainable social development through long-running CSR initiatives in local communities Hyundai Motor Group Executive Chair Euisun Chung Charts Mid-to-Long-Term Growth Strategy in Brazil. PIRACICABA/SEOUL — Euisun Chung, Executive Chair of Hyundai Motor Group (the Group), visited the Hyundai Motor Company’s manufacturing plant in Piracicaba, Brazil to chart the Group’s mid-to-long term local growth strategy in the country. The Executive Chair’s visit reflects the Group’s commitment to the Brazilian market and to the increasingly competitive business environment there, as well as its exploration of new growth opportunities in the mobility and hydrogen energy sectors. Brazil is a key hub for the Group in Central & South America (CSA), hosting both Hyundai Motor’s local production plant and the CSA regional headquarters. Since its completion in 2012, the Hyundai Motor Brazil (HMB) plant has consistently produced approximately 200,000 vehicles annually, establishing itself as a major Korean business in the country and supporting economic cooperation between Korea and Brazil. Brazil’s automotive market is characterized by unique structural requirements. Fuel-flexible vehicles (FFVs), which can operate on both gasoline and ethanol, dominate market demand, while import tariffs of up to 35 percent make local production essential to maintaining a competitive advantage. Hyundai Motor Group Executive Chair Euisun Chung Charts Mid-to-Long-Term Growth Strategy in Brazil. Executive Chair Euisun Chung Charts Production, Quality and Sales Strategy At the plant, Executive Chair Chung reviewed production operations and conducted an in-depth quality inspection of the i20 and CRETA SUV. The HMB plant achieved cumulative production of 2.5 million vehicles in March 2026 and currently produces 200,000 units annually on a mixed line spanning three models developed for the Brazilian market: HB20, CRETA and i20. “The milestone of 2.5 million units produced in just 13 years stands as a testament to the dedication and teamwork of everyone at our Brazil plant. Building on this meaningful achievement, we must now rise to the new challenges ahead in an increasingly competitive external environment.” —Euisun Chung, Hyundai Motor Group Executive Chair “This success has been possible only because of the trust Brazilian customers have in our products. We must focus entirely on customers and build on our strong production-quality advantage to provide the best possible products and services.” —Euisun Chung, Hyundai Motor Group Executive Chair Launched in June 2026, the i20 is positioned as a core strategic model alongside the HB20 to lead the Brazil B-segment market. The vehicle is equipped with an FFV-exclusive powertrain optimized for the Brazilian market, and offers SUV-like space, comfort, advanced technology, and safety for a competitive segment in the local market. The B-segment represents 23 percent of Brazil’s automotive market, making it the country’s second-largest segment by share. Hyundai Motor aims to establish the i20 as a bestseller in this market through product and quality competitiveness. To support this objective, Hyundai Motor is pursuing strategic partnerships across travel, retail, entertainment, and fitness sectors. These multi-faceted marketing activities are designed to deliver tangible benefits in customers’ daily lives and include vehicle test drives, airline partnerships, subscription services, and premium experiences. Mid-to-Long-Term Growth Strategy Through Expansion of SUV, Electrification, and Hydrogen Based on a systematic analysis of Brazilian government policy, the automotive market and local customer preferences, Hyundai Motor Group has identified and committed to three strategic priorities: Diversifying Hyundai Motor’s SUV and electrified lineup in Brazil Establishing a foundation for hydrogen-related business “The changes in the industry environment driven by Brazil’s sustainable industrial policy represent a new growth opportunity for us. Through diverse, customer-focused initiatives, we must strengthen our fundamental competitive advantages and build a solid foundation for growth.” —Euisun Chung, Hyundai Motor Group Executive Chair Hyundai Motor plans to strengthen sales of the popular CRETA while introducing diverse SUV models by 2030. The company is exploring local production of small electric vehicles while accelerating development of FFV-HEV (Fuel Flexible Vehicle-Hybrid) powertrains designed specifically for Brazil’s ethanol-gasoline fuel ecosystem. Hyundai Motor plans to rapidly introduce this Brazil-specific electrified technology across popular SUV segments. Looking ahead, Hyundai Motor Group plans to establish a local hydrogen and renewable energy ecosystem centered on Brazil, a leader in renewable energy markets across Latin America. Brazil is strategically developing its hydrogen industry at national level through the National Hydrogen Program (PNH2, Programa Nacional de Hidrogênio). The country is promoting low-carbon hydrogen with the ambition of becoming a major global producer and exporter. Hyundai Motor possesses competitive advantages in fuel cell technology and manufacturing capabilities, with the ability to implement integrated solutions across hydrogen production, distribution, and utilization through group company synergies. Working with affiliate companies, Hyundai Motor plans to actively explore new hydrogen mobility markets, including hydrogen commercial vehicles and hydrogen trams. It will also assess opportunities in green hydrogen production, hydrogen fuel cell system supply and renewable energy power plant construction. In parallel, the company will strengthen industry-academy partnerships in hydrogen research with institutions such as the University of São Paulo, supporting its mid-to-long-term growth in the region. Hyundai Motor will also strengthen local research and development capabilities by expanding R&D center personnel and building specialized capabilities for the Brazilian and wider Latin American markets. Strong First-Half Sales Support Hyundai Motor’s Growth Strategy Hyundai Motor has strategically established itself as a leading automaker in Brazil through market-specific models and locally produced vehicles optimized for customer demand. According to the National Federation of Automotive Vehicle Distribution in Brazil (Fenabrave), Hyundai Motor recorded first-half 2026 sales of 96,723 units in the Brazilian market, the company’s highest first-half volume since 2019, when it sold 99,567 units. This 2026 result represented a 12.1 percent increase from 86,316 units in the same period of the previous year. Led by the HB20 sedan and hatchback and the CRETA, Hyundai Motor achieved a 7.1 percent market share and ranked fifth among automotive brands. Industry analysts attribute Hyundai Motor’s successful establishment in Brazil to the timely introduction of popular B-segment small cars and small SUVs tailored for local preferences. The HB20 sedan and hatchback have recorded cumulative sales of more than 1.88 million units, approaching the 2-million-unit milestone. The CRETA, launched in 2017, has become a flagship model, with cumulative sales exceeding 570,000 units and consistently strong market performance. Building on this momentum, Hyundai Motor plans to establish the i20 in the market and achieve total sales of 204,000 units in 2026. Supporting Local Economic Growth & Sustainable Development As a major Korean company and automaker operating in Brazil, Hyundai Motor contributes to sustainable social development through meaningful CSR initiatives in local communities. Through the IONIQ Forest campaign, Hyundai Motor is supporting the restoration of Brazil’s tropical rainforest. Since 2022, the company has planted 100,000 trees across Minas Gerais and São Paulo States, restoring 40 hectares of forest and continuing to manage the areas to support their long-term sustainability. Since 2014, Hyundai Motor has operated the Sorriso Cidadão (Citizen Smile) dental trailer program, providing free dental care services to over 80,000 children and law enforcement officials in the Piracicaba region. The company plans to expand both the regions and groups served by the program. Hyundai Motor is also recognized for its business practices and workplace culture in Brazil. In 2026, the Brazil plant received Empresa Pró-Ética (Ethical Business Excellence) certification from Brazil’s Controladoria-Geral da União (CGU). It has also been certified as a Great Place to Work for nine consecutive years, based on direct employee surveys conducted by the Great Place to Work Institute, and has been recognized for workplace mental health initiatives in recent years. Empresa Pró-Ética is a comprehensive ethics and integrity certification program that assesses corporate compliance, ethical management and ESG practices. The Brazil plant is the only automotive operation in the country to have received the certification in the past 10 years. About Hyundai Motor Group Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
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