Hyundai Motor Company President Munoz... U.S. Auto Market Needs Protection from Chinese Products

[Financial News] Hyundai Motor Company President Jose Muñoz warned that if the United States government does not maintain strong market protection measures, including tariffs, the United States could repeat the same onslaught of Chinese vehicles currently affecting the European automotive market.
President Munoz stated at an event held in San Jose, California, on the 17th (local time) that if the tariffs currently imposed and other safeguards preventing market access are not maintained, the U.S. automotive market will face chaos similar to that of Europe.
He pointed out, "Even though the European Union (EU) has erected trade barriers such as tariffs due to unfair subsidies, Chinese vehicles are being sold at 30 to 40 percent lower prices than competing models in major markets such as Italy, Spain, and France."
In particular, he cited the UK, which left the EU and does not impose separate tariffs, as a prime example of a risk. He stated, "The UK market, which was once highly profitable and robust, has now transformed into something like China," adding, "With no barriers in place, Chinese brands are sweeping up the top-selling models." In fact, the share of Chinese brands in new car registrations in the UK soared to 15% in the first half of this year, and their share within the EU also exceeded 9%.
President Munoz emphasized that the U.S. government must establish mechanisms to minimize the influence of Chinese companies, stating, "The U.S. will also face a similar situation if appropriate regulatory measures are not taken." Currently, the U.S. is effectively blocking imports by imposing high tariffs of approximately 100% on Chinese electric vehicles. Ford Motor Company CEO Jim Farley has also urged preparation, mentioning the possibility of Chinese automakers entering the U.S. market within the next five to ten years.
Meanwhile, President Munoz also stated his position on autonomous driving technology and battery internalization strategies. Hyundai Motor Group has postponed the launch of its proprietary Level 2++ autonomous driving system from the original end of 2027 to the end of 2029 to collect data and verify safety.
He announced plans to first unveil Level 2+ and 2++ equipped vehicles in 2028 through cooperation with NVIDIA Corporation, a semiconductor company, and reaffirmed, "While we may form temporary partnerships to secure technology, the group's core strategy is to ultimately internalize key technologies such as batteries and autonomous driving."

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