When there are no crises, we risk becoming complacent in optimism, which can be more dangerous than any external threat,” the chairman of South Korea’s top automaker said in his New Year’s message during the automotive group’s New Year’s gathering at Hyundai Motorstudio Goyang, north of Seoul.“We have always faced crises and overcome them brilliantly, emerging even stronger in the process,” he said.“Terms like perfect storm should heighten our alertness and strengthen our resolve, not push us into defensive postures that neglect innovation.” TRUMP, EV CHASM, CHINAChairman Chung’s strong urge to be bold in meeting challenges comes as Hyundai Motor Co.and its affiliate Kia Corp.are bracing for a tumultuous future in their US operations, particularly amid the market uncertainty surrounding Donald Trump’s return to the White House and Chinese automakers’ aggressive marketing initiatives.
Regarding US EV policy under Trump, Muñoz said he doesn't want to speculate whether benefits will stay or go, saying, “That's something I can't control.”The CEO, however, said he’s confident that the group can “find a way as always.”In dealing with challenges, he said Hyundai Motor will leverage its strategic partnerships with US partners, including General Motors Co.and WayMo LLC.
Last September, Hyundai and GM agreed to jointly develop new vehicles and source raw materials for clean-energy cars in line with US efforts to ward off the rise of Chinese rivals amid an EV market slowdown, dubbed the “EV chasm.”In October, the Korean carmaker forged a multi-year strategic partnership with Waymo, a unit of Alphabet Inc., to jointly develop a Level 4 autonomous vehicle based on Hyundai’s all-electric crossover SUV, the IONIQ 5.
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