On July 16, a Xiaomi SU7 Max trim was spotted being transported on a delivery truck along the Gyeongbu Expressway near Hyundai’s HQ in Seoul. The vehicle carried a temporary license plate was spotted by Blotter. According to industry sources, Hyundai had officially applied for and received approval for temporary operation of the SU7 for research and development purposes.
In addition to the Hyundai HQ in Seoul, multiple Xiaomi SU7 units are reportedly stationed at the Namyang Research Center, further confirming Hyundai’s interest in studying the design and performance of the SU7—marking an expansion of the company’s foreign vehicle research initiatives.
Strategic Response to China’s EV Industry Surge
Hyundai’s interest in the SU7 is seen as part of a broader strategic effort to monitor and respond to the rapid advancements of Chinese EV brands like BYD and Xiaomi. During the company’s New Year briefing in January, chaired by Hyundai Motor Group Executive Chair Chung Euisun, he acknowledged the need to stay competitive against not only Tesla but also emerging players from China. Chung emphasized that the challenges ahead are inevitable, but Hyundai should not be discouraged by uncertainty.
Increased Investment in R&D and EV Benchmarking
In 2024, Hyundai Motor Group increased its total investment by 19% year-over-year to KRW 24.3 trillion (approx. USD 17.5 billion), with nearly half—KRW 11.5 trillion (approx. USD 8.3 billion)—allocated for research and development. These R&D activities are expected to include global vehicle benchmarking, autonomous driving technology, and infotainment system advancements.
Hyundai’s Q1 2024 report also supports this direction. The company’s total tangible assets rose significantly, from KRW 38.92 trillion in 2023 to KRW 44.77 trillion in the first quarter of 2024. Tangible asset acquisitions in Q1 reached KRW 2.08 trillion, a 12% increase from the same period last year. While the breakdown of specific asset categories has not been disclosed, industry analysts believe part of this investment may be tied to the procurement of vehicles like the Xiaomi SU7 that are not officially sold in Korea.
Xiaomi SU7 as a Benchmark for Infotainment Design
Hyundai plans to leverage research from test vehicles like the SU7 to inform the development of future models, including at its UX Studio located on Gangnam-daero. The Xiaomi SU7 is known for its sophisticated infotainment system and display layout, which bears similarities to Hyundai’s own Pleos Connect system. Analysts expect Hyundai to study this system closely as it refines its own next-generation in-car technologies.