LOS ANGELES – José Muñoz, the incoming chief executive of South Korea's top automaker Hyundai Motor Co., said on Thursday the company is ready to tackle potential risks associated with the new Trump administration such as the likely elimination of EV subsidies and higher tariffs.“We are prepared to address all regulations,” he said during a press briefing on the sidelines of the LA Auto Show 2024.“The US is the most important market for us.”Currently Hyundai Motor’s global chief operating officer and head of North and South American operations, Munoz was named last week to succeed Chang Jae-hoon as the Korean automaker’s first foreign CEO.
In 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.
HYUNDAI, KIA SHOWCASE AT LA AUTO SHOWAt the LA Auto Show, Hyundai Motor Group showcased more than 40 models, including the IONIQ 9; the Hyundai Initium, a hydrogen fuel cell EV (FCEV); Kia’s EV9 GT: and an updated version of the Genesis GV70 SUV.
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