en.Wedoany.com Reported - Hyundai Steel Co., Ltd. released its mid- to long-term development roadmap in late June 2026, positioning automotive steel sheets as a core growth engine. Under a phased expansion plan, the company aims to achieve annual sales of 5.3 million tons of automotive steel sheets within two years, further increasing to 7.7 million tons by 2032. This target represents an approximately 54% increase from the 2025 baseline. Hyundai Steel is South Korea's second-largest steelmaker and one of the world's leading suppliers of automotive steel sheets.
Hyundai Steel stated that, in addition to supplying the in-house vehicle production needs of Hyundai Motor and Kia, it supplies over 1 million tons of automotive steel sheets annually to other global automakers. To achieve the 2032 sales target, the company is accelerating product structure upgrades, focusing on increasing the output of third-generation automotive steel sheets and strengthening marketing efforts to global automakers, particularly in Europe. In terms of product deployment, Hyundai Steel plans to commence mass production of low-carbon steel in early 2026 to attract new customers and enhance global competitiveness.
The U.S. market occupies a significant position in Hyundai Steel's mid- to long-term strategy. The company is building an electric arc furnace (EAF) steel mill in the United States with an annual capacity of 2.7 million tons, expected to achieve commercial production in the first quarter of 2029. This project will help Hyundai Steel circumvent trade barriers and serve North American automotive customers locally. Additionally, the company's steel service center in Pune, India, was completed in the third quarter of 2025, further supporting the expansion of high-value-added automotive steel sheet sales in India and surrounding markets.
Hyundai Steel stated that it will address the challenges of the steel industry's downturn and rising trade protectionism by focusing on the sales expansion of high-value-added automotive steel sheets, low-carbon steel, and long products. The company's total sales target for 2026 is 17.35 million tons, a 1.8% year-on-year increase, with a focus on increasing the share of high-value-added automotive steel sheets and low-carbon steel sales.
This mid- to long-term roadmap released by Hyundai Steel clearly identifies automotive steel sheets as a core growth engine. As the global automotive industry transitions toward electrification and lightweighting, demand for high-strength automotive steel sheets continues to grow. Through initiatives such as the construction of an electric arc furnace steel mill in the U.S., the operation of a service center in India, and product structure upgrades, Hyundai Steel is accelerating its strategic layout in the global automotive steel sheet market.
