Beijing Hyundai to develop Elantra-based own brand EV

Gasgoo.com (Shanghai October 20) - On the week of its ninth anniversary, Beijing Hyundai announced that they would be unveiling its new own brand car at next month's Guangzhou International Motor Show, the Beijing Times reported. The new vehicle will reportedly be an electric-powered car based on the Elantra. A gasoline-powered version will be offered soon after.

Xu Heyi, board chairman of Beijing Hyundai, said the joint venture is committed to bringing its first own-made electric car to market. Meanwhile, JV General Manager Lu Zaiwan said that in addition to new energy and pure electric vehicles, the brand will also continue to research and develop traditional gas-powered vehicles. Further information will be given at the Auto Guangzhou show in November, Mr. Lu added.

The new own brand will reportedly be cooperating with two companies, the Tianjin Qingyuan Electric Vehicle and Beiqi New Energy Vehicle companies. In addition, Hyundai Motor in Korea will be offering technical support.

Future decisions regarding the own brand's fate will be decided by the joint venture's board of directors. Mr. Xu added that, due to the electric vehicle market still being in it's infancy, production for the car will be done at a relatively small-scale at first.