Hyundai CEO José Muñoz on Competing with Chinese Automakers
Hyundai CEO José Muñoz expressed confidence in the company's ability to compete against Chinese automakers by emphasizing a 'level playing field' and product improvements. While acknowledging China’s aggressive expansion into European markets, he believes protectionist policies can help shield U.S. manufacturers from similar disruptions. Muñoz stated that Hyundai does not have specific strategies targeting Chinese competitors but focuses on vertical integration to reduce costs and improve quality. He highlighted a $5.8 billion investment in Louisiana for green steel production as part of this approach, aiming to enhance competitiveness through internal technology development. Despite current U.S. trade barriers preventing the sale of most Chinese electric vehicles (EVs), Muñoz noted that these protections may weaken over time. However, he remains optimistic about Hyundai's ability to adapt and compete without a dedicated strategy for countering China.
Topics: automaker strategy China electric vehicles (EVs) trade policy