Hyundai Chairman Euisun Chung Highlights Quality as Key Strategy Against Low-Cost Chinese EVs
Hyundai Chairman Euisun Chung Highlights Quality as Key Strategy Against Low-Cost Chinese EVs
  • BK Min
  • 승인 2024.07.04 11:24
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Hyundai Chairman Euisun Chung Delivers Speech at HLI Green Power Inauguration in Indonesia

Hyundai Motor Group Chairman Euisun Chung addressed the company's strategy in response to the influx of low-cost Chinese electric vehicles (EVs). 

During his visit to Indonesia, Chung said, "I believe that the best strategy is to provide the highest quality." 

On July 3rd (local time), Chairman Chung attended the completion ceremony of HLI Green Power and the mass production launch of ''The All-New Kona Electric'' (Kona Electric) at Hyundai's Indonesian plant in the Karawang New Industrial Complex, West Java. 

After the event, he shared his insights with the press.

"Ultimately, the consumer makes the decision," Chung emphasized. "We believe that developing technology in terms of performance and cost with the best quality products is the most effective strategy."

Regarding the high market share of Japanese cars in Southeast Asia, Chung acknowledged, "Japanese cars have been present here for a long time. We will learn from their expertise and improve upon it."

Explaining why Indonesia was chosen as a production base in Southeast Asia, Chung said, "Indonesia is rich in mineral resources like nickel and has clear government policies on EVs. With the largest population in the region, many young consumers, and a fast adoption rate of new technologies, we see significant potential here. We hope to expand from Indonesia to other parts of Southeast Asia."

Chung also mentioned inspecting the Indonesian-made Kona Electric with Indonesian President Joko Widodo (Jokowi). "The President expressed a desire to test drive the vehicle, and we plan to facilitate that. Indonesia shows great interest and expectations for producing and exporting EVs."

Hyundai Motor, Kona Electric

Jang Jae-hoon, President of Hyundai Motor, also addressed the media, discussing the market for low-cost EVs. "Establishing a presence in the premium segment with models like the Ioniq 5 and Kona is crucial. However, we are also planning low-cost models," he explained.

He added, "Market share is important. We will strive to lead the market and maintain competitiveness against Chinese EVs' aggressive pricing strategies."

In September 2022, Hyundai Motor Group established its first complete car manufacturing plant in the ASEAN region and Indonesia's first EV production facility in the Bekasi Delta Mas Industrial Complex. Additionally, on the same day, they inaugurated the HLI Green Power battery cell plant in the nearby Karawang New Industrial Complex, a joint venture with LG Energy Solution capable of producing batteries for over 150,000 EVs.

The summary of this article in Korean is as follows.

▷현대차 정의선 "인도네시아 거점 아세안 시장 키우겠다"

정의선 현대차그룹 회장이 인도네시아에서 열린 HLI그린파워 준공 및 코나 일렉트릭 양산 기념식에서 중국산 저가 전기차에 대응하기 위한 전략으로 "최고의 품질"을 강조했다. 

정 회장은 "소비자가 최종 판단을 내리기 때문에 성능과 원가 측면에서 기술을 개발하는 것이 중요하다"고 말했다. 이어 "인도네시아는 풍부한 자원과 젊은 소비층을 바탕으로 전기차 생산에 유리한 조건을 갖추고 있다"며, "이를 통해 동남아시아 다른 지역으로의 확장을 기대한다"고 덧붙였다. 

장재훈 현대차 사장 역시 저가 전기차와 관련해 프리미엄 브랜드의 중요성을 강조하면서도 저가 차량도 기획 중이라고 밝혔다. 

현대차그룹은 2022년 인도네시아에 첫 전기차 생산 공장을 설립하고, LG에너지솔루션과 협력해 전기차 배터리셀 공장 HLI그린파워를 준공했다.

Source_ⓒHyundai Motor


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