Hyundai Motor Aims to Double China’s Share of Global Sales

Hyundai Motor Co. is aiming to more than double China’s contribution to its global sales to about 9% by 2030, seeking to reverse years of decline amid intensifying competition from local manufacturers.

To reach that goal, South Korea’s top automaker will need to sell about 500,000 cars a year in China by the end of the decade, Chief Executive Officer José Muñoz said in an interview with Bloomberg Television at the Beijing auto show on Friday. To win back buyers, it plans to launch 20 new models, including the China-specific Ioniq Venus and Earth concept cars unveiled at the show, which will go into production in the second half of this year.