By Moses Akaigwe
Hyundai Motor said on Wednesday it was targeting annual global sales of 5.55 million vehicles by 2030, up 30 percent from 2023, as it plans to double its hybrid lineup to counter a slowdown in global electric vehicle (EV) demand.
The South Korean firm also said it would buy back up to 4 trillion won ($3 billion) of stock between 2025 and 2027.
Reuters reports that the automaker plans to pay a minimum of 2,500 won per share in quarterly dividends in a package that would return 35% of its profit to shareholders, up 10 percentage points from the current policy.
The targeted 5.55 million is expected to cover sales in Nigeria where the brand is represented by Hyundai Motors Nigeria Ltd, which is one of the largest automobile companies in the local market and is continuing with its excellent standards of assembly of the vehicles, sales and after-sales services nationwide.