Modern cars strive to increase their market share in China by more than double by 2030.

Modern Auto Group plans to increase its market share in China in its global sales to over 9% by 2030, doubling the current percentage. This is in an effort to reverse the trend of declining sales in the face of increasingly fierce competition from local car companies. Jose Munoz, CEO of Modern Auto, stated in an interview with the media during the Beijing Auto Show on Friday that in order to achieve this goal, the leading South Korean car company needs to reach an annual sales volume of 500,000 vehicles in China by 2030. To regain consumers, the brand plans to launch 20 new models, including the Aion Krypton and Aion Earth concept cars, which were unveiled at the auto show this week and specifically designed for the Chinese market. These two models will go into production in the second half of this year. The Chinese market used to account for nearly one-fifth of Modern's global sales, but currently only makes up about 4%. Munoz also mentioned that China remains the most advanced market in the world for electric vehicles, autonomous driving, and software-defined cars.