China taught Hyundai to be 'humble' and learn from rivals for survival: CEO

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China taught Hyundai to be 'humble' and learn from rivals for survival: CEO

Published: 26 Apr. 2026, 09:01

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

Hyundai Motor CEO José Muñoz speaks about his strategies for the Chinese market during a press interview on the sidelines of Auto China 2026 in Beijing on April 24. [HYUNDAI MOTOR]

[INTERVIEW]

BEIJING — For Hyundai Motor, China has been an intractable challenge, resistant to any effort to succeed. CEO José Muñoz says it is time for Hyundai to be "humble," acknowledge its failure and learn from Chinese rivals to survive.

“We have learned in China to be humble, work harder and try to constantly learn from others in this industry,” Muñoz said during a press interview on the sidelines of Auto China 2026 in Beijing on Friday.

“In the Chinese market, speed is tremendous. Some of the top brands that you saw 10 years ago here have now disappeared,” Muñoz added. “I think we have taken too long to react to the situation, but thankfully, I think before it is too late, I'm taking the right decision to strain the market.”

Muñoz’s remarks come after Hyundai unveiled the Ioniq V, the first China-dedicated EV under its Ioniq brand at the exhibition on Friday, signaling a bold push to seek revival in China.

Starting with the Ioniq V, Hyundai plans to introduce 20 new models in China over the next five years, aiming to sell 500,000 units annually by 2030, a surge of nearly 150 percent over last year.

The Ioniq V, a China-dedicated EV from Hyundai Motor [SARAH CHEA]

Hyundai Motor unveils the Ioniq V, a China-dedicated EV, at Auto China 2026 in Beijing on April 24. [SARAH CHEA]

After entering China in 2002, Hyundai’s market share rose to 5 percent in 2016, becoming one of the top 3 players with Volkswagen and GM when combined with Kia.

However, following Seoul’s decision to deploy the U.S. Terminal High Altitude Area Defense, or Thaad, antimissile system on its territory, a widespread boycott of Korean products in China hit its sales hard, and its share dropped to less than 1 percent in 2025.

One of the key factors behind Hyundai’s downturn in China lies in its inability to align with the preferences of local consumers, who are more attuned to domestic technologies and offerings such as autonomous driving features.

In response to these challenges, Hyundai's Ioniq V is equipped with CATL batteries and features Level 2+ autonomous driving capabilities through a collaboration with the Chinese company Momenta.

Hyundai Motor executives including CEO José Muñoz, second from left, speak about their strategies for the Chinese market during a press interview on the sidelines of Auto China 2026 in Beijing on April 24. [HYUNDAI MOTOR]

“As a result of our partnership with ByteDance’s subsidiary, Douyin, the Ioniq V integrates large language model-based voice recognition, smart recommendations and personalized services, while also supporting Baidu and Gaode maps,” said Huh Jae-ho, the China chief technology officer at Hyundai Motor.

“We also support third-party apps like WeChat, and have incorporated features such as Pen Mode and Karaoke, catering to the preferences of young Chinese consumers.”

A rebound in China is crucial for Hyundai, especially given the skepticism surrounding EVs in the U.S. market and sluggish EV sales in Europe. China is the world's largest EV market, with environmentally friendly vehicles now accounting for 55 percent of new car sales, backed by generous government subsidies and incentives.

Hyundai aims to export the China-focused Ioniq series to other regions like the Asia Pacific, North America and the Middle East. The Alexio, a China-dedicated EV that was launched last year, also debuted in Australia.

“We’re seeing a very positive reaction in Australia, and the head of Asia Pacific operations is considering expanding the Alexio to other parts of the region,” said Muñoz.

“Also, we have the opportunity to hedge the risks that we have in other regions globally,” the CEO added. “If [the Ioniq series] succeeds in China, we will [expand to] markets like Asia Pacific, Southeast Asia and potentially in Central and South America.”

BY SARAH CHEA [[email protected]]