Ioniq lands in China as Hyundai targets EV revival
Hyundai Motor launched the Ioniq all-electric sedan at Auto China 2024 and plans to introduce 20 localized models in China over the next five years. The company aims to raise annual sales at Beijing Hyundai to 500,000 vehicles, investing $1.17 billion in the local joint venture.
Hyundai Motor is launching the China-specific Ioniq all-electric sedan and pledging 20 localized models in five years to regain ground in China's automotive market. The new electric vehicle made its global debut at Auto China 2024. Hyundai outlined an aggressive expansion plan, including battery-electric vehicles and extended-range electric vehicles, starting with the Ioniq V. The company announced expanded investments and partnerships with local firms, including CATL and Momenta. Hyundai aims to raise annual sales at Beijing Hyundai to 500,000 vehicles and invested $1.17 billion in the local joint venture last year. The Ioniq V is a midsize electric SUV with a driving range exceeding 600 kilometers on a single charge.
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