Phones
Hyundai CEO: Level playing field needed against China EVs
José Muñoz says protectionist policies and vertical integration can keep Chinese automakers at bay, but acknowledges risk without safeguards.
If you’ve been hoping cheap Chinese electric cars will finally land in the US and drive prices down, Hyundai’s CEO has some mixed news.
José Muñoz said at the reveal of the 2027 Hyundai Tucson in New York City that he’s not as pessimistic as other automaker bosses about Chinese EVs. He wants a fair fight, not a flood. “As long as there is a level playing field for everybody,” Muñoz told The Verge. “That’s all we ask, right?”
Right now, US tariffs and a ban on cars with Chinese software make it nearly impossible to sell Chinese vehicles here. But President Trump has said he’d be open to Chinese factories in the US if they hire American workers, and experts expect China to find a way in eventually.
Muñoz says Hyundai hasn’t built a defensive strategy specifically for Chinese competition. Instead, the company is betting on vertical integration, making its own components to cut costs. He pointed to Hyundai’s $5.8 billion investment in Louisiana for green steel and a battery joint venture with SK On in Georgia.
“We don’t develop strategies specifically because of the Chinese or because of other types of competitors,” Muñoz said. “We are always trying to do better.”
The numbers show why he’s paying attention. Chinese EVs in Europe sell at about 30 percent less than comparable European models, even with EU tariffs. In China, over 60 percent of new cars are electric. In the US, it’s under 6 percent. The biggest barrier here is price, but affordable models are scarce.
Hyundai hasn’t backed away from EVs the way some other automakers have. It still sells the Ioniq 5 and Ioniq 9 in the US, alongside a growing hybrid lineup. The Hyundai Group recently passed Honda in US hybrid sales, trailing only Toyota. Muñoz thinks the US can catch up on battery production, saying “there is a lot of production of batteries in the United States with some of the best global manufacturers.”
The bottom line for buyers: Chinese EVs aren’t coming tomorrow, and Hyundai is trying to stay competitive by bringing costs down internally. If you’re considering an EV now, today’s options from Hyundai and others aren’t going to get cheaper overnight just because of China.
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