Modern Automobile CEO: will continue to increase investment in the Chinese market.

On January 16th, Beijing Hyundai announced through their official Weibo account that on January 13th, the CEO of Hyundai Motor, Jose Munoz, visited BAIC Group and stated that the Chinese market has always been the core of Hyundai's global strategy, and the group will continue to strengthen its presence in the Chinese market. Beijing Hyundai revealed that Hyundai will further enhance technological and personnel support, open up core technologies in electrification and intelligence, dispatch a team of senior technical experts, deepen cooperation in various areas, and introduce its high-end brands into the Chinese market. Meanwhile, BAIC Group will open up core resources, jointly build a research and development platform, and provide support in marketing, supply chain, and other aspects to help Beijing Hyundai achieve high-end and localized development. This strategic cooperation comes at a time when Hyundai's business in China is facing dual challenges. On one hand, its high-end efforts are facing significant obstacles. Currently, Genesis is the only luxury brand of the Hyundai Motor Group that has officially established independent operations and a separate dealer network in the Chinese market.