Hyundai Motor is accelerating a strategic realignment of its IONIQ brand to focus on China and Europe — two of the world’s largest electric vehicle (EV) markets — as the carmaker struggles to overcome tariff-induced earnings decline. The carmaker recently unveiled the IONIQ V all-electric sedan, designed for China, in a renewed push for the world’s largest EV market. Hyundai Motor’s top executives — including Vice Chair Chang Jae-hoon and CEO Jose Munoz — flew to Beijing for the Auto China 2026 exhibition. China’s EV market is dominated by homegrown players, but Hyundai Motor is moving to recover its sales with the strategic launch of the China-exclusive model. The carmaker also shared its plan to introduce 20 new models there over the next five years, spanning both extended-range electric vehicles and fully electric models. The IONIQ V EV stands out for its advanced features, including a 27-inch 4K display and an advanced driver assistance system developed in partnership with Chinese autonomous driving firm, Momenta. “China is the most difficult market for us, but we will get back on our feet and bring success again,” Chang told reporters at the auto fair. Hyundai Motor also unveiled the IONIQ 3 electric hatchback designed exclusively for Europe, in an apparent move to boost its sales in the world’s second-largest EV market. The hatchback offers a maximum driving range of up to 496 kilometers and is equipped with a 61 kilowatt-hour battery. The carmaker hopes to expand its global EV sales with the launch of the two strategic models at a time when it faces a steep earnings fall, triggered by the imposition of auto tariffs by the United States. Hyundai Motor’s operating profit in the first quarter came in at 2.51 trillion won ($1.7 billion), down 30.8 percent from the previous year. The carmaker also faces toughening EV competition in the home market due to the solid popularity of Tesla’s price-competitive Model Y and the increasing presence of BYD. Combined sales of the carmaker’s flagship IONIQ 5 and IONIQ 6 EVs in Korea came in at 8,629 in the first quarter, falling behind the 11,926 of Model Y. BYD is also emerging as a threat to Hyundai Motor in Korea, with the Chinese EV brand rising to become the nation’s fourth-largest imported carmaker by sales in the first quarter. Given that it has only been a year since the brand made its debut here, the figure is outstanding enough to add pressure to Hyundai Motor. on ESS battery gro (ICE SEOUL)

Fonte notizia: THE KOREA TIMES