Hyundai warns Chinese EVs could take over US market without trade barriers

Hyundai Motor CEO Jose Munoz said Chinese EVs are 30–40% cheaper than rivals in Italy, Spain and France, and urged the US to keep high tariffs. In the UK, which has no such barriers, Chinese-built cars took 15% of sales in H1 2026 versus 9% in the EU.

• Munoz: Chinese EVs are 30–40% cheaper than rivals in Italy, Spain and France
• Chinese EVs hold 15% of UK sales without tariffs vs 9% in the EU
• Hyundai is losing market share and profitability in Europe to Chinese makers
• Munoz called the level of Chinese EV technology "unbelievable"