South Korean automaker Hyundai Motor Co. showcased the Ioniq V at Auto China 2026 as part of its localization strategy to drive a recovery in China.
At a press briefing at the auto show in Beijing on Friday, Hyundai Motor President and Chief Executive Officer (CEO) Jose Munoz outlined plans to regain market share with the Ioniq V, a tailored electric vehicle built on China’s information technology and battery ecosystem.
The Ioniq V is equipped with batteries from Contemporary Amperex Technology Co. and features Level 2+ driver-assistance technology developed with Chinese startup Momenta.
It also includes infotainment powered by ByteDance’s large language model, integrating local technology. Hyundai plans to upgrade the system to Level 2++.
Munoz said collaboration with local partners will deepen localization while refreshing the brand and strengthening brand power. He added the company is focusing on design differentiation from Chinese rivals.
Starting with the Ioniq V, Hyundai plans to roll out 20 new models in China over the next five years and lift annual sales to 500,000 units by 2030. Munoz said success in China could help offset risks in other regions, adding the company may expand into Asia-Pacific markets including Australia and Southeast Asia based on performance, while repositioning Beijing Hyundai as a key pillar of its global supply chain.
As China scales back electric vehicle subsidies, Munoz said core competitiveness will become more important. Citing the philosophy of late founder Chung Ju-yung, he said Hyundai will embrace challenges and renew its push in China.
The company plans to launch three battery EVs and three extended-range EVs, including the Ioniq E, within two years.
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