THE CRUNCH
Hyundai chief executive José Muñoz says his company does not need a dedicated strategy to counter Chinese imports, arguing that a level playing field, the right mix of protectionist policies and product improvements can minimise the damage from Chinese competition, The Verge reports.
Unlike several rival bosses who have warned that cheap, high-tech Chinese EVs entering the US could effectively end their businesses, Muñoz is notably less pessimistic. He argues that a combination of protectionist policies and better products can keep Chinese competition at bay, even as he acknowledges China could flood the US market with affordable imports.
Hyundai is itself feeling the squeeze from Chinese manufacturers, but Muñoz stopped short of calling for a dedicated strategy to counter Chinese imports, according to The Verge's report.