Hyundai Motor to display other brands’ EVs for reference at Ulsan plant

Hyundai Motor’s Ulsan plant. (Hyundai Motor Group)

South Korean auto giant Hyundai Motor Co. will display eight electric vehicles (EVs) of other brands at its Ulsan plant showroom, as part of an effort to compare its own vehicles with others amid intensifying competition.

According to industry sources on Thursday, Hyundai Motor will hold the exhibition for four days starting October 23.

Hyundai Motor said the event aims to give employees a chance to compare EVs from other manufacturers, fostering ideas for improvements in its own lineup.

Hyundai Motor has a history of benchmarking through exhibitions and test drives.

In 2022, it purchased around 60 Tesla Model 3 and Model Y vehicles, encouraging Hyundai Motor and Kia Corp. executives to use them for commuting.

Earlier this year, Hyundai Motor’s Namyang Research Center also acquired a Rolls-Royce Spectre EV for testing.

The upcoming exhibition, however, is the first time Hyundai Motor is showcasing multiple Chinese EV brands.

Among the Chinese models are NIO Inc.‘s ES6, MG Motor’s ZS EV, BYD Co.’s Seagull, and Xpeng Inc.‘s P5.

NIO and Xpeng are two of China’s top three emerging EV makers.

NIO, for instance, operates over 2,000 battery swap stations across China, and its ES6, an electric SUV, boasts a CLTC range of up to 930 kilometers on a single charge.

Xpeng’s P5, supported by investments from Alibaba Group and Foxconn Technology Inc., has advanced artificial intelligence features and is sold in Europe.

BYD’s Seagull is a key rival in the affordable EV market.

Priced at approximately 74,000 yuan ($10,368), it sold over 40,000 units in August alone, making it China’s top-selling EV. It is also expected to enter the Korean market soon.

Other models on display include Tata Motors Ltd.’ Nexon EV Max, General Motors Co.’s Chevrolet Bolt EUV, BMW AG’s i4, and Volkswagen AG‘s ID.4, alongside Hyundai’s Ioniq 6, Casper EV, Kona EV, and Genesis GV60 and G80 Electrified.

The event will enable employees to compare budget models like the Seagull and Casper EV with premium ones like the BMW i4 and G80 Electrified.

The exhibition is fueled by Hyundai Motor’s growing confidence, buoyed by rising sales.

According to U.S. Cox Automotive data, Hyundai Motor’s Ioniq 5 ranked fourth in cumulative EV sales for the third quarter, up one notch from last year. The Ioniq 5 sold 30,318 units, surpassing Volkswagen’s ID.4, which sold 16,375 units.