April 20, 2024

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[THE INVESTOR] Hyundai Motor said on Nov. 6 that it is considering launching its high-performance N Brand vehicle in China in the latest move to boost its presence in the world’s biggest automobile market.

Hyundai said there are new opportunities in China, a fast growing market for performance cars.

“I believe we can announce an N car launch plan for the Chinese market in a few months,” Thomas Schemera, executive vice president in charge of product planning and strategic division at Hyundai Motor, said as he introduced N Brand at the China International Import Expo in Shanghai.

“Electrified propulsion for high performance vehicles are being considered and a must for the future to come.”

Schemera did not elaborate on a specific time frame on an N car launch plan.

The Korean auto giant has developed its own N performance brand to strengthen its image as a solid carmaker and gain entry into the high-performance car market dominated by foreign nameplates such as BMW and Mercedes-Benz.

Hyundai Motor has launched three N cars -- i30 N and i30 Fastback N, both in Europe, and the Veloster N in Korea and North America.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)