Hyundai Says Its Cars Will Always Be Fancier Than Chinese Counterparts
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Hyundai Says Its Cars Will Always Be Fancier Than Chinese Counterparts

Hyundai Says Its Cars Will Always Be Fancier Than Chinese Counterparts

Hyundai says that the prices of its cars will always justify a premium over Chinese models. Meanwhile, BMW is collaborating with Mercedes to establish an EV charging network in China.

This is AM Drive, Motor1’s daily look at the news you need before you get in your car.

Hyundai Says It Will Always Be More Premium Than Chinese Automakers

Hyundai has evolved significantly since the 1990s, but so have Chinese automakers. Despite this, the South Korean company asserts its status as a more prestigious brand than any Chinese competitor. Speaking with CarSales, Hyundai’s Chief Operating Officer in Australia, John Kett, stated that the era of cheap cars is over.

“I think we’ll always be a premium to the Chinese. We’ve just got to come up with the technology to keep ahead of them, to recognize that our premium is worth it to some customers. Our benefit is that the pace of change in our portfolio is quite significant, and I think we’re going to have to keep doing that to justify the pricing position we have over our competitors. Time will tell if the technology we will bring is worthy of the premium we charge.”

John Kett emphasized that Hyundai’s profitability would have been compromised if it had continued with low prices as it did in the past. This would have hindered the company’s ability to introduce and update numerous car models. It seems like a next-generation model or a mid-cycle facelift is being released almost every other week.

Mercedes-Benz And BMW Are Collaborating on an EV Charging Network, Not on a Car:

Mercedes-Benz and BMW logos

Mercedes and BMW are officially collaborating to establish an EV charging network in China. The two German companies are forming a 50:50 joint venture owned by their local subsidiaries – Mercedes-Benz Group China and BMW Brilliance Automotive. By the end of 2026, at least 1,000 stations will be operational, with the first ones set to be inaugurated in 2024 in regions where EVs are more prevalent.

As a high-power “premium charging network,” the new infrastructure will not be restricted to Mercedes and BMW models. Other car owners will also be able to charge their EVs at these stations. Where feasible, the charging stations will offer electricity from renewable sources.