Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails
Munoz said Chinese brands could repeat Europe’s 9% market share gains in the United States without tariffs and other market-access safeguards.
- On Thursday, Hyundai Motor CEO Jose Munoz warned that the US could face a wave of Chinese auto imports similar to Europe's unless Washington maintains tariffs and market-access safeguards.
- Chinese automakers have rapidly expanded across Europe, capturing more than 9% of the EU market and 15% of new registrations in Britain, while offering vehicles 30% to 40% cheaper than rival models.
- Munoz noted that Britain's market has "become like China" due to a lack of barriers, contrasting this with the European Union, which imposed tariffs on Chinese-built electric vehicles after finding they benefited from unfair state subsidies.
- While the US currently blocks Chinese electric vehicles with tariffs of about 100%, President Donald Trump recently indicated he would welcome Chinese automakers if they built vehicles locally, a possibility Ford CEO Jim Farley predicts within 5 to 10 years.
- Separately, Hyundai Motor Group is delaying its proprietary driver-assistance software launch to late 2029, as Munoz emphasizes vertical integration and developing in-house battery and self-driving technologies alongside temporary Nvidia partnerships.
17 Articles
17 Articles
Hyundai warns the US may be next in line for a wave of cheaper Chinese EVs
Chinese automakers like BYD are quickly taking over global markets with low-cost electric vehicles, and Hyundai Motor’s CEO Jose Munoz warned the US could be next without safeguards. more…
Hyundai CEO warns of Chinese vehicle surge in US without safeguards
Hyundai Motor CEO Jose Munoz warned on Thursday that the US could face a similar wave of Chinese car imports that has disrupted Europe’s car market unless Washington maintains tariffs and other market-access safeguards
(Seoul = Yonhap News) Reporter Kim Seung-wook = Hyundai Motor CEO Jose Muñoz stated that if the U.S. does not maintain market protections such as tariffs, Chinese cars will... in Europe and...
Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails
By Abhirup Roy and Hyunjoo Jin SAN JOSE, California/SEOUL, Sept 18 (Reuters) - Hyundai Motor CEO Jose Munoz warned on Thursday that the US could face a similar wave of Chinese auto imports that has disrupted Europe's car market unless Washington mainta...
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
