Hyundai
Tagged in 1 story
Stories tagged Hyundai
Hyundai cancels IONIQ 3 launch in Australia citing Turkish import costs and Chinese EV price pressure
Hyundai has scrapped plans to launch the IONIQ 3 electric hatchback in Australia, originally scheduled for early 2027 at around AUD 40,000. The company cited high importation costs from its Turkey plant and intense price competition from Chinese EVs as reasons the business case no longer works. Through September, Chinese brands including BYD, Geely, Zeekr and Omoda Jaecoo held six of Australia's top 10 EV sales positions, with the BYD Sealion 7 selling 19,964 units and the Geely EX5 reaching 12,745 units.
Why it matters
The withdrawal signals that even established OEMs are retreating from price sensitive segments where Chinese manufacturers dominate, reshaping procurement strategies for fleet buyers and charge point operators targeting mass market EV drivers. Australian CPOs planning infrastructure around anticipated model launches must now account for supply chain economics that can cancel vehicles before they reach showrooms.