Hyundai to develop new electric car brand for China

Share Our Knowledge With Your Friends, Contacts And Co-Workers

Hyundai Motor Co. is preparing to develop a new electric vehicle (EV) brand exclusively for Chinese consumers in a bid to further boost its presence in the world’s largest automobile market, company officials said Tuesday.

Beijing Hyundai Motor Co., a 50-50 joint venture between Hyundai Motor and Beijing Automotive Co. established in 2002, plans to roll out an EV model in the first half of 2012 to meet growing demand in China for environmentally friendly cars, they said.

More than 10,000 new energy vehicles were sold in China last year, in line with the country’s push to foster an eco-friendly automobile market.

China has been encouraging its automakers to jump into the burgeoning market of hybrid and electric cars so they will be able to vie with global rivals. The Chinese government said earlier that it will invest more than 100 billion yuan (US$15.5 billion) to help nurture the new car industry over 10 years, starting this year.

In May, the Chinese government launched a program to subsidize private purchases of alternative fuel cars in five cities — Shanghai, Hangzhou, Changchun, Hefei and Shenzhen — offering carmakers up to 50,000 yuan for each plug-in hybrid car and a maximum of 60,000 yuan for each full-electric vehicle.

Chen Qingquan, chairman of the World Electric Vehicle Association, expected that the volume of new energy vehicles will reach 500,000 by 2015 in China and double to 1 million by 2020.

Market watchers expect Hyundai’s new vehicle will be produced at the joint venture’s third factory, which is scheduled to be completed in 2012.

Hyundai Motor last month saw its cumulative auto production in China exceed 3 million vehicles.

The Korean automaker earlier said 363,473 units of its vehicles were sold in the January-June period, compared with 328,692 units last year.

About the author  ⁄ 

2 Comments

  • vivekanandan anjathasingam
    September 10, 2011

    when will the hyundai’s electric car come in indian market ?

  • truck part and accesories
    December 27, 2011

    The number shown here sold by hyundai is satisfactory to invest more in china , Government also supporting to product EV.. chinese government going right direction for the country.

    Rosemary

Leave a Comment

See News by Industry
Industry News China Green Auto News Spy Shots China Auto Culture
See News By Brand
Acura China Acura China Aston Martin China Aston Martin Audi China,FAW-Audi Audi China
Baojun Auto Baojun Beijing Auto Beijing Auto Group Beijing Auto Beijing Auto
Besturn Auto, FAW Besturn Besturn BMW China BMW China Brilliance Auto Brilliance Auto
Buick China Buick China Baojun Auto BYD Baojun Auto Cadillac
Changa,Chang'an Chang'an - Chana Changfeng Changfeng Changhe Auto Changhe
Chery Auto Chery Chevrolet China Chevrolet Chevrolet China Chrysler
Citroen China Citroen Dodge China Dodge Dodge China Citroen DS
Dongfeng Auto Dongfeng Geely Emgrand Emgrand Geely Emgrand Englon
FAW,First Automobile Works FAW Ferrari China Ferrari Fiat China Fiat
Foday Auto Foday Ford China,Changan-Ford Ford Guangzhou Auto Guangzhou Auto
Geely Auto Geely Geely Auto Gleagle GoNow Auto GoNow
Great Wall Great Wall Hafei Auto Hafei Haima Haima
Hawtai Hawtai Honda Honda Huanghai Yellow Sea Auto Huanghai (Yellow Sea)
Hyundai China Hyundai Infiniti China Infiniti JAC China JAC
Jaguar Jaguar Jinbei Jinbei JMC JMC
Kia Kia     Jaguar Land Rover
Landwind Landwind Lexus China Lexus Lifan Auto Lifan
Lincoln Lincoln Youngman Lotus Youngman Lotus Luxgen Luxgen
Mazda Mazda Mercedes China Mercedes MG - Morris Garages MG
MINI China MINI Mitsubishi China Mitsubishi Nissan China Nissan
Opel China Opel Opel China Peugeot Reely China Reely
Renault Riich Riich Riich Roewe
Rolls-Royce China Rolls-Royce SEAT SEAT Senova Senova/ShenBao
Double Ring Double Ring - Shuang Huan Sichuan Yema Sichuan Yema Skoda Skoda
Double Ring Smart Subaru Subaru Suzuki Suzuki
Toyota Toyota Volvo Volvo Volkswagen Volkswagen
Zotye Zotye   Others    
Close
Sign up today to receive China Car Times weekly newsletter!
Your name
Your email