Hyundai is making a comeback in China and this new EV might just seal the deal

Hyundai is gaining traction where most automakers are struggling to stay afloat. Despite a flood of low-cost electric cars and an intensifying price war, Hyundai sees an opportunity “to write a new chapter” with its first dedicated EV rolling out in China.

Will Hyundai’s new EV spark a comeback in China?

Leading up to its debut, we thought it could be the IONIQ 4 with a sleek new look. The ELEXIO is Hyundai’s first custom-tailored EV for China.

During its global debut earlier this month in Shanghai, Hyundai said China is a “must-fight place,” calling it “the core of Hyundai Motor’s global strategy.” The company also revealed its “In China, for China, to the World” strategy as it looks to make a comeback in the world’s largest EV market.

According to Hyundai, the company is already seeing early success. On Monday, Hyundai’s joint venture in China, Beijing Hyundai, announced that its losses improved by over 100 billion won ($72 million) in the first quarter.

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The company posted a net loss of 42.3 billion won in the first three months of 2025, down from the massive 146 billion won ($105 million) in Q1 2024. At this pace, Hyundai could see a profit by the second quarter in China.

Hyundai said lower operating costs spurred the cost improvements after the company sold its Chongqing plant last year.

It’s also due to rising exports. Beijing Hyundai exported 14,999 vehicles in Q1, up significantly from just 608 a year ago. Hyundai’s Chinese JV is investing 8 billion yuan ( $1.1 billion) as it looks to revamp the business.

Although it’s already seeing some success, Hyundai’s new ELEXIO electric SUV is expected to accelerate its momentum. With the EV launching in the second half of 2025, Hyundai could turn a profit by the end of the year. It may even happen as early as the second quarter.

Hyundai claims the new EV opens “a new starting point for the transformation from traditional fuel vehicle giant to electrification” in China.

The ELEXIO electric SUV, dubbed the Chinese version of its popular IONIQ 5, rocks a new look with crystal cube LED headlights and a full-length light bar that stretches across the front.

Based on Hyundai’s E-GMP platform, which powers the IONIQ 5, the ELEXIO is rated with up to 435 miles (700 km) CLTC driving range. More details, including prices and trim options, will be revealed closer to launch. Check back soon for the latest.

What do you think of Hyundai’s new electric SUV? Would you buy the ELEXIO in Europe, the US, or other global markets? Let us know in the comments.

Source: Newsis, Beijing Hyundai