Bloomberg Talks Hyundai Motor President/Co-CEO Jose Munoz Talks Auto Tariffs
Apr 15, 2025
José Muñoz, the CEO of Hyundai Motor Company, shares insights on the automaker's significant investments in the U.S. and their approach to managing the complexities of trade tariffs. He emphasizes the commitment to keeping prices stable through June 2. The conversation also covers strategies to maintain competitiveness amid market changes, highlighting collaborations with tech firms to drive innovation and efficiency in production. Muñoz outlines the balancing act of cost management while upholding quality and safety in their vehicles.
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Hyundai's US Production
- Hyundai is the third largest OEM globally.
- They have factories in Alabama and Georgia, producing about 40% of the cars they sell in the US.
Hyundai's Investment Strategy
- Hyundai's $21 billion investment aims to increase capacity and localize the supply chain, including green steel production.
- They also invest in technologies like Boston Dynamics, NVIDIA, Motional, and Supernal.
Hyundai's Production Locations and Advocacy
- Hyundai primarily produces cars for the US market domestically and in South Korea, not Mexico.
- They advocate for a level playing field through the Alliance for Automotive Innovation.