Hyundai Motor’s potential success in China will depend on the carmaker’s ability to release more localized models with competitive pricing, as Beijing Hyundai struggles to achieve a meaningful sales rebound even after its much-hyped launch of the China-specific Elexio electric vehicle (EV) last year, industry officials said Sunday. Beijing Hyundai launched its first all-electric Elexio midsized SUV in October last year, displaying its renewed signal to widen its footing in the lucrative Chinese EV market. The vehicle, however, has made little impact there largely due to its ambiguous positioning in terms of its commercial value. The model is struggling to compete against price-competitive Chinese EVs, with just hundreds of Elexio EVs having been sold there. This has raised concerns that upcoming models from Beijing Hyundai could face similar challenges if their positioning remains unclear — neither distinctly premium nor price-competitive. According to data from the China Passenger Car Association, Elexio’s monthly sales in China reached merely 221 in November and 228 in December
Price competitiveness key to Hyundai Motor’s China comeback
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