Overview
- Hyundai CEO Jose Munoz warned on Thursday that the United States could face the same surge of low‑cost Chinese electric vehicles that has reshaped European markets unless Washington keeps market‑access safeguards in place.
- Chinese brands already hold rapid share in Europe, accounting for more than 9% of EU sales in H1 2026 and roughly 15% of new UK registrations, with some models selling about 30% to 40% cheaper than rivals in countries such as Italy, Spain and France.
- The U.S. currently imposes roughly a 100% tariff that effectively blocks most Chinese EV imports, but Munoz urged conditional access tied to local production and hiring rather than an outright ban, aligning with President Trump’s publicly stated openness to U.S.‑built Chinese models.
- Hyundai said it will delay its in‑house Level 2++ driver‑assistance rollout from late 2027 to late 2029 and will use Nvidia‑based systems to offer Level 2+/2++ features in 2028 as a temporary measure while it collects more safety data.
- As a parallel hedge, Hyundai plans to add 500,000 units of North American capacity by 2030 and raise parts sourced locally toward about 80%, moves aimed at protecting jobs, margins and compliance with any future local‑content rules.