Hyundai CEO says only a ‘level playing field’ can minimize damage from China
Hyundai CEO José Muñoz advocates for a level playing field to manage competition from Chinese electric vehicle manufacturers. He remains optimistic that protectionist policies and product improvements can help Hyundai maintain its market position.
Why it matters
The automotive industry is bracing for potential disruption as Chinese EV makers expand globally and eye the US market.
There’s been a lot of doom and gloom from the auto industry lately when the subject of China comes up. Automaker CEOs, in particular, warn that allowing low-cost, high-tech Chinese electric vehicles to be sold in the US would effectively spell the end of their businesses.
Hyundai CEO José Muñoz is not as pessimistic as some of his counterparts. He says he’s confident the right mix of protectionist policies and improvements on the product side can keep China at bay. Even though his company is feeling the squeeze from China, Muñoz isn’t ready to throw in the towel. But he also acknowledges that China could flood the US with affordable imports without established protections in place.
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