Hyundai Motor Group has stated it goals to extend gross sales in China by 23% to 817,000 automobiles in 2021 from 664,744 items in 2020, because the market continues to guide the worldwide restoration from the COVID-19 pandemic.
An analyst has advised just-auto that Hyundai’s electrification imaginative and prescient for China can also be anticipated to assist the corporate’s development within the nation – and hydrogen is a signfiicant aspect of that.
“With institution of its first abroad hydrogen gas cell plant in China, the corporate goals to provide 6,500 gas cell methods per yr, supporting authorities’s goal of 1 million hydrogen gas cell automobiles by 2035,” stated Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData.
“China is a key marketplace for Hyundai each from manufacturing and gross sales standpoint and the corporate goes with the right combination of methods. Proper positioned merchandise, just like different markets reminiscent of India, are anticipated to play a key position within the success of the corporate in China,” he stated.
Bakar maintains that Hyundai-Kia has been going by way of a bumpy trip in China with each sister corporations Hyundai and Kia witnessing decline in gross sales since 2017.
“Hyundai’s gross sales goal for 2021 and different newest developments point out that the corporate is dedicated to strengthen its foothold on the earth’s largest automobile market,” he says.
“Hyundai has made main operational and strategic adjustments reminiscent of new mannequin launches with mixture of IC engine and electrical automobiles and, enhancing native manufacturing, advertising, and distribution to reclaim its market place in China,” Bakar factors out.
See additionally: Hyundai-Kia goal 23% development in China in 2021
