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standing at the new starting point of annual sales of 30 million vehicles, 2024 is destined to be an extraordinary year for china's automobile industry.

with the advantage of home field, domestic brands continue to catch up with the new energy trend, and surpass joint venture brands in market share for the first time in 2023. this momentum is even stronger in 2024, and the brutal price war has even made many joint venture brands say that they can't stand it.

in fact, "volume price" is not only for the chinese market, but also for the world. china accounts for a quarter of the global market, and joint venture brands are generally difficult in the chinese market at this stage. however, hyundai group's global sales in the first half of 2024 were 3.6159 million vehicles, maintaining the top 3 position in global sales.

this achievement not only demonstrates the global strength of hyundai motor group, but also reflects its strong growth momentum in overseas markets. in the post-joint venture era, how to walk the path of reform has become the sword of damocles hanging over the heads of joint venture brands.

at the 2024 chengdu auto show held recently, from beijing hyundai's every move, we seemed to hear it playing a wonderful song of transformation.

combination punch, transformation song

on august 30, beijing hyundai officially launched its 2024 global flagship model, the fifth-generation santa fe, at the 2024 chengdu auto show. the official guide price is 195,800-268,800 yuan, and the replacement price starts at 185,800 yuan. as the first "square box" model of a joint venture brand, it expands the exploration and comfort experience of young families traveling.

the entire vehicle's seats are made of imported nappa leather, with a unique 5/6/7-seat multiple space layout in its class, a 2046l extra-large trunk that exceeds that of vehicles in its class, up to 30 adas intelligent driving assistance systems, a third-generation 2.0t engine and 8at transmission, as well as an htrac full-time four-wheel drive system and 7 driving modes.

any of the above items taken alone is quite impressive. combined with the extremely attractive price, this car has both hardcore off-road design and advanced and comfortable driving space, which will further consolidate beijing hyundai's leading position in the mid-size suv market.

"in this car, we can see beijing hyundai's 'innovation and transformation' and 'sticking to its original intention'. i believe that with the transformation and development of beijing hyundai, we will be able to create another miracle in the chinese market." wu zhoutao, the permanent deputy general manager of beijing hyundai, expressed full confidence in the fifth-generation santa fe.

in addition, at the beijing hyundai booth, you can also see the mpv model 2024 kudos, which was just launched two days ago. with a starting price of 171,800 yuan, it is expected to reshape the 200,000-class mpv market landscape.

there are also high-performance pure electric vehicles such as ioniq 5 n, which are introduced to the chinese market for the first time. they are the pinnacle of hyundai motor group's new energy technology and interpret the perfect fusion of racing genes and daily driving.

this set of product combinations demonstrates beijing hyundai's profound background, strong product strength and huge potential for electrification development.

local r&d, global expansion

at the press conference, wu zhoutao also delivered a speech with the theme of "innovation and change" and "sticking to the original aspiration", systematically expounding beijing hyundai's strategic measures in the face of profound changes in the automotive industry. after all, in the era of joint venture 2.0, the previous model of china being responsible for production and sales and foreign parties being responsible for product introduction is no longer applicable.

only by changing the model of joint ventures simply introducing mature products from the international market, combining the world's leading car-making advantages with chinese local enterprises, strengthening local r&d and overseas exports, and accelerating strategic implementation by improving decision-making efficiency and marketing innovation, can we ensure that enterprises can move forward steadily and develop in the long term during the transformation.

in terms of electrification, beijing hyundai and catl have reached a cooperation to jointly develop pure electric vehicle models for the chinese market. they will also work closely with top domestic ict companies to achieve ota for the entire product line by 2025 to meet the needs of chinese consumers for a smart ecosystem.

relying on hyundai china (yantai) technology research center, we will strengthen the local intelligent and electrified r&d capabilities. starting from 2025, beijing hyundai will launch new pure electric models and build a matrix of new energy models that conform to the chinese market. with beijing hyundai as the starting point, we will build an export base for hyundai motors that radiates the world.

another example is "htwo guangzhou", which is hyundai motor group's first overseas hydrogen fuel cell system r&d, production and sales base. it is said that hydrogen energy is the ultimate energy of the 21st century and hydrogen-powered vehicles are the end of cars. hyundai motor will walk on multiple legs to achieve full coverage of all mainstream power technology routes.

in order to improve decision-making efficiency and solve the problems of complex communication and long decision-making cycles in traditional joint ventures, hyundai motor established the china strategic business unit last year, with wu yijun, general manager of beijing hyundai, concurrently serving as the head. beijing hyundai's global strategic position has been elevated to a higher level.

the above is also the key to the implementation of hyundai motor’s “in china for the world” strategy.

responding to ever-changing situations with “unchanging”

how can we maintain stability and long-term development amidst the great changes, ensure long-term trust among all parties, and create a good ecosystem for corporate reform and innovation? today's automakers have a highly consistent view that they should transform from manufacturing-oriented enterprises to user-oriented enterprises, be good at listening to consumers, uphold sincere service values, communicate directly with customers, and implement their opinions and ideas into products.

"while innovating and changing, beijing hyundai will also stick to its original aspirations and long-termism, and respond to changes with constancy." in wu zhoutao's view, no matter how the times change, beijing hyundai will always have four things that remain unchanged:

first, we adhere to the people-oriented and user-centered philosophy. second, we insist on the ultimate pursuit of quality. for example, during the development phase of a new car, 500 trial vehicles will be produced for verification tests in terms of safety, durability, and reliability, including a 1 million-kilometer actual road condition test across the country to ensure safety and quality.

beijing hyundai's quality management is based on hyundai motor's globally advanced quality system. the fact that its products have been ranked first in jd power's "vehicle reliability research" for many years is the best proof of this.

third, we will stick to our commitment to win-win cooperation with partners in the industry chain. for example, beijing hyundai currently has more than 500 dealers, and we are also consolidating the capabilities of our channels, including constantly upgrading our marketing system, keeping up with sales methods such as live streaming, and launching a series of channel incentive policies, so that dealers and manufacturers can form a community of shared destiny, and only then can we achieve healthy and sustainable development.

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fourth, the company has adhered to its corporate social responsibility. since its establishment, beijing hyundai has invested more than 100 billion yuan in china, with a cumulative output value of 1.2 trillion yuan, and has created more than 200,000 jobs. the above is a good correspondence to wu zhoutao's speech on the theme of "innovation and change" and "sticking to the original intention".

faced with the impact of the "new four modernizations" of automobiles, some automakers went all in on electrification, which eventually led to the gradual loss of the fuel vehicle market, which was originally quite advantageous; some automakers were slow to respond and failed to launch electrified products, making it difficult to keep up with the pace of the times. beijing hyundai has found the balance between "change" and "unchange" with its profound brand heritage and insight.

returning to the mainstream of the chinese market and stepping onto the world stage is just around the corner.