Hyundai and BAIC Plan to Release 20 New EVs in China

Hyundai Motor has announced a plan to strengthen its position in the world's largest EV market, China. 

With partner BAIC Group, Hyundai plans to release 20 new models in the immensely competitive market over the next five years. 

The partnership builds on the launch of Hyundai’s new IONIQ V, the company’s first production model developed exclusively for the Chinese market. 

New models for China

Hyundai Motor and its partner BAIC have committed a combined investment of CN¥8bn (US$1.17bn) to their joint venture Beijing Hyundai under an agreement reached in December 2024.

Hyundai says that the investment “reinforces the foundation for long-term growth” and “supports a broader transformation aimed at delivering products tailored specifically to Chinese customers”.

As part of this investment, the joint venture plans to introduce 20 new models in China over the next five years, marking its most ambitious product expansion in the market to date.

José Muñoz, President and CEO of Hyundai Motor Company, says: “With significant investments into Beijing Hyundai, 20 new models coming over the next five years, the official launch of our IONIQ brand in China and the unveiling of IONIQ V, this is the most committed, the most ambitious and the most exciting chapter we have ever written in this market. 

“China is where the future of mobility is being defined, and Hyundai intends to help define it, In China, For China, and ultimately, for the world.”

Through this “comprehensive product offensive”, Beijing Hyundai aims to achieve 500,000 units in annual vehicle sales. 

The IONIQ V

These 20 new models announced will build on the launch on the recently announced IONIQ V. 

This long-range model secures a driving range of over 600 km on a single charge. It contains a variety of smart features, a 27-inch panoramic display and eight speakers. 

Additionally, the car contains a large language model (LLM)-based Smart AI Assistant supported by the Qualcomm Snapdragon 8295 chipset, which the company say enables fast, responsive control of key vehicle functions through voice interaction.

Li Fenggang, President at Beijing Hyundai Motor Company, says: “Today, we are not just launching a new car; we are expressing our profound respect for the Chinese market and our unwavering commitment to its future.

"China is leading the global electrification charge, and its dynamic customers demand the best. IONIQ V and our new strategic vision demonstrate our resolve to meet and exceed those expectations, leveraging Chinese innovation to set new global standards in mobility.” 

Cars exclusively for China

China is the world's largest EV market. It is also the world's most competitive market, with price wars, increasingly announced innovative technological features and a surplus of domestic production. 

The Global EV Outlook 2025, issued by the IEA, shows that electric car sales in China increased by almost 40% year-on-year in 2024, further driving up the country's share of global electric car sales. 

In the same year, China maintained its lead among major markets, with electric car sales exceeding 11 million units, which is more than were sold throughout the world two years earlier, according to IEA data. 

José Muñoz, President and CEO of Hyundai Motor Company, says: “China is an essential market for Hyundai Motor Company. The world's most demanding EV consumers, the fastest development cycles, the deepest battery supply chain and an advanced innovation ecosystem. That is why we are tripling down on our commitment to China."

Hyundai is not the only company trying to compete in China. smart recently announced the launch of its own hybrid sedan, only available in China. Volkswagen Group announced the release of more than 20 electrified vehicles in China as part of its own offensive there.