It seems to be a twin of the coming Suzuki eVX, front-wheel drive based (AWD optional). So far, no way to compete with Volvo EX30.

Can somebody briefly explain the subsidies (if they exist) for BEV in China? For me, it seems difficult to explain so dramatic price difference between the EU and China markets without them.

On the title of the post: I see the opposite in the place where I leave (the northern Europe), electric Volkswagens are way more popular than Hyuindais. ID.4s are everywhere, while Ioniq 5s are relatively rare.