SCMP Tech5/2/2026Business1 min readChina
Hyundai Launches Ioniq Brand in China With $1.17 Billion JV Investment
Korean automaker aims to counter rising domestic competition at Beijing Auto Show
Quick Look
- Hyundai launched its Ioniq brand in mainland China at the Beijing Auto Show on April 24, committing an additional 8 billion yuan ($1.17 billion) to its joint venture with BAIC Group.
- The world's third-largest carmaker by deliveries seeks to counter the rise of Chinese domestic rivals.
AI-generated summary
Font size
"We'll use this beam of light to kick off Hyundai's new journey in China," he said, raising the device stamped with the logo of Ioniq, the new brand the Korean carmaker has just launched in mainland China. The world's third-largest carmaker by deliveries took the spotlight on April 24, the first day of the Beijing show that has become the world's largest car exhibition. The Korean manufacturer is one of several international marques seeking to counter the rise of home-grown rivals. Together with Chinese partner BAIC Group, Hyundai has committed an additional 8 billion yuan (US$1.17 billion) to their joint venture, Beijing Hyundai.
Related Topics
This article was originally published by SCMP Tech.
