Hyundai CEO: only a 'level playing field' can limit damage from China

Hyundai CEO José Muñoz said the US needs a level playing field or risks being overrun like Europe, where Chinese EVs are about 30 percent cheaper than local rivals. Hyundai has no specific strategy against Chinese brands, betting instead on vertical integration and a $5.8 billion green steel plant in Louisiana.

• Chinese EVs in Europe are about 30 percent cheaper than comparable local models
• Hyundai is investing $5.8 billion in green steel production in Louisiana
• EV share of sales: Europe over 20%, China over 60%, US under 6%
• Hyundai Group passed Honda for second place in US hybrid sales