[Focus] Hyundai Motor Unveils 'IONIQ V' in China: What Is the Strategy fo...

The IONIQ V on display at the 2026 Beijing International Automotive Exhibition. Photo = Hyundai Motor

| NewsWatch= Reporter Choi Sua | While Hyundai Motor Company is taking a head-on approach in China—the world’s largest electric vehicle (EV) market—by unveiling the ‘IONIQ V’ for the first time, voices are calling for a more proactive strategy for the South Korean domestic EV market. In response, Hyundai Motor highlighted the strong performance of Hyundai and Kia in the domestic market last year, stating, "We will continue to link our efforts with the development of EV infrastructure and the ecosystem."

According to industry sources on the 28th, Hyundai Motor showcased the IONIQ V at the '2026 Beijing International Automotive Exhibition (Auto China)' on the 24th. The vehicle is built on a platform jointly developed with its joint venture partner, BAIC Motor. It features batteries from CATL (with a range of 600km per charge based on CLTC standards) and Advanced Driver Assistance System (ADAS) technology from the autonomous driving company, Momenta. Notably, it will be the first IONIQ model to be produced at a local factory in China.

At this exhibition, Hyundai Motor emphasized a thorough localization strategy under the slogan "In China, For China, To Global." By selecting local Chinese companies as partners, the company aims to actively embrace local technology and provide products optimized for Chinese road conditions.

The exterior of the IONIQ V was finished in gold to reflect the preferences of Chinese consumers, and the model name was derived from the first letter of 'Venus.' This marks a departure from the previous naming convention of using numbers. According to the official website, the name signifies "placing the customer at the center, like a planet orbiting the sun."

The reason Hyundai is investing so much effort lies in its sense of urgency. Beijing Hyundai peaked in 2016 with a 6.5% market share, being ranked among the 'Top 3' alongside Volkswagen and Toyota. However, following the THAAD incident in 2017, its share plummeted, remaining below 1% last year. Hyundai Motor has set a goal to restore annual sales to the 500,000-unit level by using the launch of the IONIQ V as an opportunity for a rebound.

Collaboration with China is an irreversible trend in the global auto industry. Not only brands with Chinese capital, such as Mercedes-Benz, Volvo, and Lotus, but also numerous companies like Audi and Buick are using China not just as a sales destination but as a 'starting point' for technology. A new paradigm has emerged where vehicles created in cooperation with Chinese tech firms are exported back to the global market.

Hyundai Motor’s press briefing at Auto China. Photo = Hyundai Motor

The dominance of Chinese brands was overwhelming at this event. BYD, the world's No. 1 in EV market share, used a massive solo exhibition hall to showcase new technologies, such as rapid charging in sub-zero temperatures. Chinese cars, which previously focused on a "value-for-money" image, are now capturing global attention with a premium strategy spanning from minivans to sports cars.

The scale of this year's Auto China is also record-breaking. A total of 1,451 finished vehicles are on display across an area of 380,000㎡—1.5 times the size of Yeouido Park. Global brands, including Honda, which recently announced its withdrawal from the South Korean market, participated in full force, underscoring the prestige of the show.

Conversely, concerns are rising regarding the South Korean domestic EV market. Since the beginning of this year, Samsung Card and BYD have attracted consumer attention through aggressive promotions, including high-rate cashback and interest-free installments. Through these promotions, BYD sold out its 2025 inventory and is actively selling new models. Analysts predict that domestic EVs, which are falling behind in price competitiveness, may shrink as a result, potentially having a negative impact on the overall domestic EV industry.

Indicators for the domestic market are also challenging. In the first quarter of this year, the best-selling EV was the imported Tesla Model Y (15,325 units), while the IONIQ 5 and IONIQ 6 sold 5,951 and 2,678 units, respectively. No news of new models for the domestic IONIQ series has been released so far. However, Hyundai appears to be using the IONIQ series as a foundation for brand expansion, stating at this year's New Year’s meeting that it is advancing autonomous driving algorithms through the IONIQ 5 Robotaxi and plans to commercialize fully driverless robotaxis in the U.S. by the end of this year.

An industry official remarked, "While financial marketing for Chinese EVs is being strengthened in the domestic market, Hyundai Motor seems to have made a bold decision to invest long-term in the domestic future technology ecosystem while directly targeting the Chinese market." He added, "While I agree that Hyundai's differentiation strategy needs to become more sophisticated amid fierce competition with global EV brands, a strategy for the domestic EV market is also necessary."

A Hyundai Motor official expressed confidence, stating, "If not limited to a specific model, Kia was the company with the highest sales in the domestic EV market last year." In fact, according to the Korea Automobile & Mobility Association (KAMA), last year's sales figures show a tight three-way race between Kia (60,609 units), Tesla (59,893 units), and Hyundai (55,461 units). The official added, "Since each model has different characteristics and customer bases, we are implementing appropriate strategies while monitoring the situation. We will continue to link our efforts with the development of EV infrastructure and the ecosystem."

Reporter Choi Sua newswatch@newswatch.kr