Hyundai Motor CEO warns of Chinese vehicle surge in the US without guardrails
- 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.
22 Articles
22 Articles
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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...
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