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Toyota’s Next Tacoma Rival Isn’t a Question of If — But When

Hyundai confirmed that a new body-on-frame platform is in the works, which will spawn a midsize pickup truck and SUV.

Rear view of a dark gray Hyundai Santa Cruz pickup truck at dusk, showing illuminated red taillights and the "SANTA CRUZ" embossed on the tailgate along with the "HTRAC 2.5T" badge.Hyundai USA
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By Chris Chin

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Hyundai recently confirmed its plans to develop a platform to take on the Toyota Tacoma and 4Runner. The Korean automaker recently held its annual product strategy conference, where it announced a new body-on-frame chassis while verifying the impending arrival of a new pickup truck.

In previous years, Hyundai hinted at the prospect of expanding its lineup to include some more rugged truck and SUV offerings. Now, it appears those aspirations are coming to fruition.

A black Hyundai pickup truck driving off-road on a dusty dirt path with hills in the background during daylight. The vehicle is kicking up dust as it moves, highlighting its rugged capability.
Introduced in 2021, the Santa Cruz is one of Hyundai’s first non-commercial pickup trucks.
Hyundai USA

The confirmation arrives a year after Hyundai and General Motors officially signed a “Memorandum of Understanding” — a joint-venture between the two auto giants, who will collaborate on researching and developing supply chain logistics, new vehicles and even future clean-energy tech.

But interestingly, despite Hyundai teaming up with GM to make new vehicles — including cars, trucks and vans — the Korean carmaker is supposedly developing this new body-on-frame platform entirely in-house and without GM’s assistance.

A Major First for Hyundai

A gray Hyundai Santa Cruz pickup truck driving off-road on a dusty, rugged terrain with hills in the background during sunset or early morning. The truck is moving away from the camera, kicking up dust behind it.
The Santa Cruz just received a mid-cycle update for 2025.
Hyundai USA

Specifics are few and far in-between. But CEO José Muñoz said the new platform is aimed specifically for the truck- and SUV-loving North American market. An ideal launch date is scheduled for sometime before 2030 and it would the first of its kind from the Korean brand.

“We’re focusing on high-profit product segments and looking for opportunities in new segments,” Muñoz said during his presentation. “In North America, we have an established brand in SUVs and see farther opportunity to larger with full-size SUVs.

“We also have ambitions to strengthen our presence in pickup trucks and light commercial vehicles. This is not only true for the US, but as you can see, pickups and SUVs are opportunities we are excited about globally,” Muñoz went on.

A presentation slide shows a white Hyundai Santa Cruz pickup truck from 2021 on the left, with text highlighting its established brand presence and sales experience. On the right, two covered vehicles represent a body-on-frame midsize truck expected before 2030, with text about building out the pickup truck portfolio, broadening the customer base, and potential for a body-on-frame SUV variant. A man in a suit stands on the left side of the stage, and silhouettes of seated audience members are visible in the foreground.
CEO José Muñoz confirms new body-on-frame platform during his presentation.
Hyundai USA

The new underpinnings will initially spawn a new midsize truck that will also compete against the likes of the Ford Ranger, Nissan Frontier and the Chevrolet Colorado/GMC Canyon.

Stellantis also confirmed to launch its own midsize pickup under the Ram brand to join the pack as a spiritual successor to the Dakota. Needless to say, when Hyundai introduces its new model, it’s going to be up against some serious competition.

“Pickup trucks represent a wide space opportunity we are ready to capture. The midsize truck segment is one of the largest and most profitable in the industry. Since launching Santa Cruz back in 2021, we’ve gained valuable experience and brand presence in the segment,” Muñoz continued.

A New SUV Is Also Part of the Plan

A presenter stands on stage in front of a large screen displaying a ranking of automotive groups. The screen shows "#3 Volume, #2 Most Profitable Automotive Group" with Hyundai Motor Group highlighted in third place for volume and second for profitability. The ranking lists Toyota as number 1, Volkswagen as number 2, Hyundai Motor Group as number 3, Renault Nissan Mitsubishi as number 4, and Stellantis as number 5. Text on the screen notes that since 2022, Hyundai Motor Group is the 3rd largest automotive group and is the 2nd most profitable automaker for the first half of 2025. The setting appears to be a formal presentation or investor day event.
CEO Muñoz noted Hyundai’s growth is still on a strong upward trend.
Hyundai USA

Although it wasn’t elaborated on, Muñoz also suggested Hyundai might spawn a new rugged SUV from the same platform. It would be an identical move to what Toyota does with the Tacoma and the 4Runner, as they essentially utilize the same underpinnings.

“Now, we are preparing to launch a new body-on-frame model before 2030 to build out our truck portfolio with the potential for an SUV variant. This expansion allows us to broaden our reach and connect directly with customers at the heart of the US market.”

Two modern Hyundai pickup trucks are parked on a flat paved surface in a desert landscape during sunset. The truck on the left is red, and the one on the right is silver-gray. Both vehicles have a bold front grille design with horizontal LED headlights and black wheel arches. Mountains and sparse desert vegetation are visible in the background.
The Santa Cruz comes in two trims, with the XRT being more adventure-oriented.
Hyundai USA

Hyundai has been on a massive product overhaul and lineup expansion campaign. The company recently launched and is in the middle of launching a series of redesigned and updated models, such as the all-new second-generation Palisade crossover SUV, the revamped fifth-gen Santa Fe, and the all-electric Ioniq 9.

What remains to be determined is whether said new SUV will be a midsize 4Runner competitor or a larger full-size competitor, which would rival the likes of the Chevrolet Tahoe and Ford Expedition. There’s also the in-betweeners, such as the current and recently overhauled North American-spec Toyota Land Cruiser.

About the Author: Chris Chin is an associate editor at Gear Patrol, covering cars, trucks and anything else with four wheels. He has over a decade of experience writing news and reviews but considers himself an enthusiast first, with a passion for classics and European cars. His daily driver is a 1987 Mercedes-Benz 560SEL with nearly 250,000 miles (87,000 are his).

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