Hyundai unveils Ioniq V as Korean automaker 'triples down' on China’s EV market

This article is by Sarah Chea and read by an artificial voice. BEIJING — Hyundai Motor has lifted the curtain on the Ioniq V on Friday at Auto China 2026 in Beijing, its first model under the Ioniq EV brand tailored for the Chinese market, as the automaker seeks to spark a revival in a nation that has eluded its grasp for a decade. The Korean automaker also outlined plans to launch 20 new models in China over the next five years, aiming to sell 500,000 units annually by 2030, nearly a 150 percent increase from last year. The Ioniq V will be powered by CATL's batteries, offering a range of over 600 kilometers (372 miles) on a single charge, and feature advanced self-driving technologies developed by Suzhou-based Momenta. "The launch is slated for the end of the year, with the Ioniq V potentially being exported to Australia, Latin America, and the Middle East, depending on its sales performance. Ioniq V: Boldly future-forward With a bold, futuristic design featuring frameless doors, a sporty hood, and sharp-edged lighting at both ends, the Ioniq V embodies a striking vision of the future. Named after Venus, this model aims to appeal to Chinese consumers with an interest in space and planets, hinting that future releases may also carry the names of celestial bodies. The rear design boasts slender horizontal tail lamps, while a sporty skid plate further enhances the dynamic feel. Measuring 4,900 millimeters (193 inches) in length, 1,890 millimeters in width and 1,470 millimeters in height, the Ioniq V offers a generous 2,900 millimeters wheelbase with a spacious 1,078 millimeters of legroom in the front and 1,019 millimeters in the rear. Physical buttons can be detached near the large display, offering customization to suit individual preferences. The interior is also filled with crystal-shaped mood lighting on the crash pad, which extends across the dashboard to emphasize its luxurious ambience. The Ioniq V also comes with Hyundai's first-ever electric air vents. "China is our greatest opportunity for growth," Hyundai Motor CEO José Muñoz said at Auto China 2026. "It is not just the world's largest automotive market. It is the world's most advanced EV and software-defined vehicle ecosystem. If you want to be globally competitive, you must be genuinely competitive here." Ambitious U-Turn in China Hyundai vowed to drop a total of 20 new cars in China for five years, including an electric SUV in the first half of 2027 and an extended range EV. It will also boost collaboration with Chinese firms such as CATL and Momenta to meet the needs of Chinese consumers accustomed to local technology and convenience. Hyundai was once considered one of the Big Three automakers in China, along with Volkswagen and General Motors, with a market share of over 5 percent as recently as 2016. However, the carmaker's sales plummeted after the United States deployed its Terminal High Altitude Area Defense antimissile system in Korea, leading to a boycott of Korean-made products. Local brands like BYD and Geely have rapidly eaten into the market for the past decade, with Hyundai now accounting for less than 1 percent of the market. Hyundai will also set up dedicated brand spaces in major cities and dealer showrooms, along with several customer programs run by Ioniq specialists. The automaker will maintain its One Price policy across all sales channels, selling vehicles at a single nationwide price without price fluctuations, to enhance customer trust. "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," said Li Fenggang, president at Beijing Hyundai Motor at the show. "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." Hyundai displayed a total of nine cars, including the Ioniq V and two concept cars, the Elexio SUV and the Palisad...