As many rivals are being squeezed out of China by low-cost EVs, Hyundai has a plan to fend off the competition. According to a new report, Hyundai is pouring resources into launching its first dedicated EV in China, due out next year.
Although electric vehicle sales continue climbing in China, the largest EV market globally, many legacy automakers are struggling to stay afloat.
According to the latest figures from the China Association of Automobile Manufacturers (CAAM) (via S&P Global), China sold a record 1.29 million new energy vehicles (EVs and PHEVs) in September, up 17% from August and 42% year over year.
As ICE cars continue falling out of favor, EV sales surpassed gas-powered car sales for the second consecutive month, with a 51.8% share of total vehicle sales last month.
Those who have been slow to transition are feeling the heat. Toyota, Volkswagen, GM, Honda, and others have all cut jobs in China as the market rapidly shifts to electric vehicles.
Hyundai has been no exception. Beijing Hyundai’s sales have been slumping since 2017. Through September, Korean automaker’s share of the China market dropped to just 1.2%.
However, Hyundai believes it can defy the market and turn things around. On October 18, Hyundai Motor China Advanced Tech and R&D Center became independent in Shanghai. The facility is Hyundai’s first overseas digital R&D center and will spearhead the automaker’s return.
Hyundai to launch EVs in China to fend off low-cost rivals
Yang Feng, the general manager of Hyundai’s new research and development facility, said in an interview with Shanghai news outlet Jiemian News that the company is launching its first dedicated EV for China next year.
Unlike other EVs, the dedicated model will be exclusively designed for buyers in China and will feature advanced new tech and designs.
Yang Feng, the first employee recruited by Hyundai China’s advanced tech R&D center, said the facility combines self-development with cooperation with local suppliers. It also includes leading tech suppliers.
According to local reports, Hyundai is partnering with Thundersoft, a smart cockpit provider, and Jianzhi Robotics, an intelligent driving supplier in China, to power its next-gen EVs.
Although Yang Feng admitted that Hyundai has struggled in recent years, the company hopes that by fusing its manufacturing expertise with local tech, it can quickly catch up with domestic automakers. Hyundai could even develop exclusive EV platforms for China.
Even some foreign brands that are pulling out of China now to protect profits will return for its smart tech, according to Fang Yinliang, McKinsey global director and partner.
“Whether it is foreign-funded auto brands or parts manufacturers, their investment in the Chinese market is likely to increase,” Yinliang explained. It’s not just about setting up R&D centers but investing in innovative Chinese companies “which will feed back to the global market.”
The tech from its new R&D center in China is not only expected to help boost sales in the region but could also be used for Hyundai and Kia’s global exports.
Electrek’s Take
Despite aggressive global expansion plans, Hyundai has had a minor presence in China. The automaker believes its new advanced tech R&D center will help turn things around quickly, with its first dedicated EV launching next year.
Hyundai is not the only automaker looking for China’s EV tech. Volkswagen expanded its partnership with XPeng with plans to launch the first co-developed EV for China in 2026.
Mercedes-Benz is investing heavily to launch a new intelligent driving EV (end-to-end capabilities) in 2026.
With Chinese automakers now looking overseas for growth in key markets like Europe, Southeast Asia, and Latin America, Hyundai and others are looking to launch a counterattack.
Source: Jiemian News
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Wind energy powered 20% of all electricity consumed in Europe (19% in the EU) in 2024, and the EU has set a goal to grow this share to 34% by 2030 and more than 50% by 2050.
To stay on track, the EU needs to install 30 GW of new wind farms annually, but it only managed 13 GW in 2024 – 11.4 GW onshore and 1.4 GW offshore. This is what’s holding the EU back from achieving its wind growth goals.
Three big problems holding Europe’s wind power back
Europe’s wind power growth is stalling for three key reasons:
Permitting delays. Many governments haven’t implemented the EU’s new permitting rules, making it harder for projects to move forward.
Grid connection bottlenecks. Over 500 GW(!) of potential wind capacity is stuck in grid connection queues.
Slow electrification. Europe’s economy isn’t electrifying fast enough to drive demand for more renewable energy.
Brussels-based trade association WindEurope CEO Giles Dickson summed it up: “The EU must urgently tackle all three problems. More wind means cheaper power, which means increased competitiveness.”
Permitting: Germany sets the standard
Permitting remains a massive roadblock, despite new EU rules aimed at streamlining the process. In fact, the situation worsened in 2024 in many countries. The bright spot? Germany. By embracing the EU’s permitting rules — with measures like binding deadlines and treating wind energy as a public interest priority — Germany approved a record 15 GW of new onshore wind in 2024. That’s seven times more than five years ago.
If other governments follow Germany’s lead, Europe could unlock the full potential of wind energy and bolster energy security.
Grid connections: a growing crisis
Access to the electricity grid is now the biggest obstacle to deploying wind energy. And it’s not just about long queues — Europe’s grid infrastructure isn’t expanding fast enough to keep up with demand. A glaring example is Germany’s 900-megawatt (MW) Borkum Riffgrund 3 offshore wind farm. The turbines are ready to go, but the grid connection won’t be in place until 2026.
This issue isn’t isolated. Governments need to accelerate grid expansion if they’re serious about meeting renewable energy targets.
Electrification: falling behind
Wind energy’s growth is also tied to how quickly Europe electrifies its economy. Right now, electricity accounts for just 23% of the EU’s total energy consumption. That needs to jump to 61% by 2050 to align with climate goals. However, electrification efforts in key sectors like transportation, heating, and industry are moving too slowly.
European Commission president Ursula von der Leyen has tasked Energy Commissioner Dan Jørgensen with crafting an Electrification Action Plan. That can’t come soon enough.
More wind farms awarded, but challenges persist
On a positive note, governments across Europe awarded a record 37 GW of new wind capacity (29 GW in the EU) in 2024. But without faster permitting, better grid connections, and increased electrification, these awards won’t translate into the clean energy-producing wind farms Europe desperately needs.
Investments and corporate interest
Investments in wind energy totaled €31 billion in 2024, financing 19 GW of new capacity. While onshore wind investments remained strong at €24 billion, offshore wind funding saw a dip. Final investment decisions for offshore projects remain challenging due to slow permitting and grid delays.
Corporate consumers continue to show strong interest in wind energy. Half of all electricity contracted under Power Purchase Agreements (PPAs) in 2024 was wind. Dedicated wind PPAs were 4 GW out of a total of 12 GW of renewable PPAs.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the official unveiling of the new Tesla Model Y, Mazda 6e, Aptera solar car production-intent, and more.
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The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.
What we know about the BYD Han L EV so far
We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.
BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.
The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.
BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.
To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).
BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.
At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).
Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.