Hyundai Motor to launch 20 models in five years in new China offensive
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Hyundai Motor plans to launch 20 new models in China over the next five years to boost its market presence amid fierce competition. The automaker, which has faced declining market share, unveiled the all-electric IONIQ V at the Beijing auto show and aims to introduce another SUV by mid-next year. Hyundai's ambitious expansion, in partnership with Beijing Automotive Group, targets annual sales of 500,000 vehicles in China, more than double its current sales. The company is also enhancing collaborations with local firms like Momenta and CATL to strengthen its localization strategy.
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