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Hyundai Motor has announced an ambitious plan to launch 20 new models in China over the next five years, signaling a renewed push to regain traction in the world’s largest automotive market. The South Korean automaker has faced declining market share in China due to fierce competition from rapidly growing domestic electric vehicle (EV) brands and shifting consumer preferences toward smart mobility solutions.
As part of its strategy to strengthen its presence, Hyundai unveiled the China-specific all-electric IONIQ V at the Beijing auto show. The model integrates advanced technology developed in partnership with Chinese autonomous driving company Momenta, highlighting Hyundai’s focus on innovation and localization. The company also confirmed plans to introduce another SUV model in the first half of next year, further expanding its EV lineup.
Hyundai, alongside its affiliate Kia Corp, ranks as the world’s third-largest automaking group by global sales. However, its performance in China has lagged behind expectations. To address this, Hyundai is deepening its collaboration with key local partners, including battery giant CATL, to enhance competitiveness in the fast-evolving electric vehicle sector.
The company described its plan with joint venture partner Beijing Automotive Group as its “most ambitious product expansion” in China to date. This initiative aligns with broader industry trends, where foreign automakers are increasingly localizing production, technology, and partnerships to compete effectively against domestic EV leaders.
Hyundai reiterated its annual sales target of 500,000 vehicles in China, aiming to more than double its current sales volume. By focusing on electric vehicles, advanced driver-assistance systems, and localized innovation, Hyundai hopes to reposition itself in the highly competitive Chinese auto market.
This aggressive expansion underscores Hyundai’s commitment to long-term growth in China and reflects the broader transformation of the global automotive industry toward electrification and smart mobility.
