Chinese catch-up: How Hyundai will chase down BYD, MG and GWM with cheaper electric vehicles in Australia

AutoExec Summary
Hyundai Australia plans to introduce electric vehicles that will help bridge the price gap with competitors like MG4, BYD Dolphin, and GWM Ora. The company aims to regain its leadership position in the EV market by offering more affordable options for consumers. While Hyundai may not directly match the prices of Chinese competitors, it believes that its future products will close the gap. The company is also focusing on electrifying its mainstream model line-up and is hopeful about its prospects in the EV space. Hyundai’s chief operating officer, John Kett, emphasized the importance of convincing consumers that the brand’s differentiation is worth a higher price.

Brands mentioned: Hyundai, MG4, BYD, GWM, Ioniq, Kona.