Hyundai CEO says only a 'level playing field' can minimize damage from China

Hyundai CEO José Muñoz says the key to limiting potential damage from Chinese EVs is a “level playing field,” not simply blocking imports. Speaking at the unveiling of the 2027 Hyundai Tucson in New York City last week, Muñoz argued that where protections are respected, the company competes effectively. He acknowledged pressure already coming from China, where automakers have gained share in Europe by undercutting prices and hurting brands including Volkswagen, Volvo, and Mercedes. In the US, sales have been constrained by steep tariffs and laws restricting software from China, but the barrier may be weakening. Muñoz said Hyundai has not built China-specific strategies, focusing instead on vertical integration, including a $5.8 billion Louisiana investment for green steel.