Hyundai: Chinese cars could crush USA. Auto Drive September 21, 2026 Chinese carmakers are expanding rapidly overseas, and Hyundai CEO Jose Munoz isn't sure US will survive the landfall. Munoz, who previously spent roughly a decade running Nissan's China operations, told Reuters on Thursday in San Jose, California, that Chinese automakers are already putting pressure on profit margins across Europe by competing aggressively on price. In markets including Italy, Spain and France, Chinese vehicles are selling for 30% to 40% less than rival models. That is happening despite the European Union imposing tariffs and minimum-pricing rules on Chinese-built electric vehicles. Munoz believes the US could see something similar "at different levels" if tariffs and other market-access restrictions were removed. The UK provides a useful preview of what might happen when those barriers aren't there. Britain left the European Union in 2020 and didn't adopt Brussels' tariffs on Chinese vehicles. "The UK, which in the past was a very profitable, very strong market, has become like China. All the top sellers are Chinese because there are no barriers," Munoz told Reuters. Chinese-branded vehicles accounted for more than 9% of EU vehicle sales during the first half of the year, according to the European Automobile Manufacturers' Association. In Britain, Chinese brands accounted for 15% of new registrations earlier this year, according to the Society of Motor Manufacturers and Traders. Munoz isn't asking Washington to simply lock the gates and pretend China doesn't exist. Instead, he believes the US should establish conditions for companies wanting to enter the market, with measures designed "to be able to minimize the impact," while accepting that "the impact is going to be there for sure." Ford CEO Jim Farley has voiced a similar concern, telling Ford employees in July that Chinese brands could realistically reach the US market within five to 10 years. Munoz also pointed to the extraordinary pace of development coming from China. "The level of innovation, the level of improvement, the technology is unbelievable." Which is not exactly the sort of thing a rival CEO says when he thinks the competition can safely be ignored. Munoz also discussed Hyundai's own technology plans, including its Level 2++ advanced driver-assistance system, intended to be comparable to Tesla's Full Self-Driving software. Hyundai Motor Group has pushed the planned launch of vehicles equipped with its proprietary system to late 2029 from the previous target of late 2027. The delay is partly about collecting more data and validating the system's safety performance. In the meantime, Hyundai is working with Nvidia on Level 2+ and Level 2++ vehicles targeted for 2028. "I don't like delaying anything," Munoz said. "If you're humble, you realize your technology is not good, maybe you need to try a partnership," he added, referring to the Nvidia agreement. Hyundai doesn't intend to outsource its technological future indefinitely, though. Munoz says the company ultimately wants to develop its own self-driving and battery technologies. "We want to internalize," he said. "We may buy things here or there, or have partnerships temporarily, but for relevant technologies like batteries, we want to have our own technology." While all of this is happening, Hyundai is also making itself rather harder to disrupt by building more cars in America. The company plans to add 500,000 units of North American production capacity by 2030 and increase the proportion of domestically sourced parts used in its US vehicles to more than 80%, up from around 60% today. Munoz has linked that manufacturing expansion to current US tariff policies, saying the measures have accelerated Hyundai's push towards domestic production. The Hyundai Santa Fe, built in Alabama, is one example of how greater localization can benefit the company under the current trade environment. So Hyundai is preparing for Chinese competition, developing its own technology, partnering with Nvidia where necessary and building more cars in America. Which is a fairly sensible way of preparing for the possibility that the world's largest automotive market might eventually have to make room for some very competitive Chinese cars

ECCK Energy & Environment Committee and Hyundai Motor Group co-host Hydrogen Information Session. September 15, 2026 The European Chamber of Commerce in Korea (ECCK) Energy & Environment Committee and Hyundai Motor Group jointly hosted a Hydrogen Information Session under the theme "Global Insights, Shared Opportunities: Advancing Korea-EU Hydrogen Cooperation" at Seoul Square on 14 September. The event brought together around 60 representatives from ECCK member companies, industry and government. In their congratulatory remarks, Hyun Ko, Director of the Hydrogen Economy Planning Division at the Ministry of Climate, Energy and Environment, and Walter van Hattum, Minister Counsellor at the Delegation of the European Union to the Republic of Korea, highlighted hydrogen as a key solution to the urgent global challenge of achieving carbon neutrality and emphasised the importance of Korea-EU cooperation in advancing the global hydrogen economy. The session was organised to share key insights from the Hydrogen Council's Global Hydrogen Compass 2026, released on 10 September, examine the rapidly evolving global hydrogen market and its strategic implications, and explore opportunities for cooperation between Korea and Europe in the hydrogen sector. Alongside the report's key findings, presentations addressed finance, policy and the broader industrial ecosystem, followed by a panel discussion featuring representatives from Korean and international businesses and NGOs. According to Global Hydrogen Compass 2026, committed investment in clean hydrogen projects worldwide has surpassed USD 130 billion, with around 90 per cent of more than 570 projects already operational or under construction. The report highlights the growing strategic importance of hydrogen not only for decarbonisation, but also for energy security, economic resilience and industrial growth. During the session, Hyundai Motor Group presented its hydrogen strategy, while HSBC delivered a presentation titled "Korea's Green Hydrogen Market Competitiveness: A Global Investor's Perspective". The Korea Hydrogen Alliance also shared insights into domestic and global hydrogen policy and industry trends. The presentations were followed by a panel discussion moderated by Hwajin Kim, Head of International Cooperation at NEXT Group, which explored key challenges and future directions for the continued growth of the global hydrogen industry. The panel brought together Ina Lee, Vice President at Hyundai Motor Group; Dr Michael Whiteley of HSBC; Hyojin Kim, Senior Researcher at the Korea Hydrogen Alliance; and Esther Haerim Heo, Director at Solutions for Its Climate. The panellists shared the view that building a sustainable hydrogen ecosystem requires a virtuous cycle in which production, demand, infrastructure and policy develop in tandem. The panel discussion highlighted the important role of policy in supporting market development and investment. Panellists noted that ensuring the bankability of hydrogen projects requires stable offtake underpinned by long-term, large-scale demand, together with consistent policy direction. With regard to Korea, panellists also noted the importance of maintaining a certain level of domestic hydrogen production capacity from an energy security perspective, while diversifying import partners and systematically expanding related infrastructure to build a stable supply chain given the country's inevitable reliance on imports. There was also broad agreement on the need to further strengthen Korea-EU hydrogen cooperation to address these challenges and support the development of the global hydrogen economy. Against the backdrop of these global industry developments, the ECCK and Hyundai Motor Group jointly organised the session to provide an opportunity for business and policy stakeholders from Korea and Europe to exchange the latest market insights and explore areas for practical cooperation. As the representative organisation of the European business community in Korea, the ECCK has long served as a bridge connecting European businesses with Korean policymakers. The session was particularly meaningful in bringing together key stakeholders in the global hydrogen industry to exchange perspectives on market and policy developments and explore opportunities for closer cooperation between Korea and Europe. The ECCK will continue to work closely with its members, the Korean Government and European stakeholders to strengthen Korea-EU dialogue and cooperation in the energy transition and other industries of strategic importance.

Building together: HYUNDAI-POSCO Louisiana Steel marks a major milestone, welcomes nearly 700 residents to Community Day. Sep 09, 2026, 09:00 ET * $5.8 billion steel mill project marked with ceremonial event on September 4, followed by Community Day celebration two days later * Sequential events demonstrate HPLS's commitment to manufacturing investment and community partnership * Community Day featured live music, interactive activities, cultural exchanges bridging Louisiana and Korea DONALDSONVILLE, La., Sept. 9, 2026 /PRNewswire/ - Just days after marking its $5.8 billion steel mill project launch with a ceremonial event on September 4, HYUNDAI-POSCO Louisiana Steel (HPLS) demonstrated its commitment to community partnership by hosting a celebration on September 6 that drew nearly 700 Donaldsonville residents. HPLS, a joint venture between Hyundai Steel, POSCO, Hyundai Motor and Kia Corporation, marked the launch of its $5.8 billion steel mill project on September 4. The first Electric Arc Furnace-based integrated steel mill in the U.S. will begin commercial production in 2029 and is expected to create 5,400 jobs, including 1,300 direct positions, while reducing CO[2] emissions by approximately 70 percent compared to conventional methods. Two days later, HPLS brought that strategic vision directly to the community. On September 6, the company hosted Community Day at Louisiana Square in Donaldsonville under the slogan "Building the Future of Steel, Together with Louisiana." The celebration featured live music performances by local artists Red Tape Musiq, King Pakayea' Band and Royal Essence, interactive activities, and cultural exchanges that brought together HPLS executives, employees and community members. Local leaders including Donaldsonville Mayor Leroy Sullivan joined the celebration alongside HPLS CEO Hyung-Jin Kim. "We are pleased to see the HPLS project launch ceremony successfully held here in our community," said Donaldsonville Mayor Leroy Sullivan, "We look forward to seeing HPLS grow as a long-term partner in our community and build a shared future together with the people of Donaldsonville." Interactive activities brought families together, including a miniature shovel game to find letters spelling "HPLS" and a 29-second bucket-stacking challenge - a playful nod to 2029, when commercial production is scheduled to begin. Participants who completed the challenge received HPLS-branded merchandise including T-shirts, caps and eco-friendly coasters. Food offered another point of connection between Louisiana and Korea, with residents enjoying local favorites such as jambalaya and chicken wings alongside Korean dishes including dakgangjeong (Korean sweet and crispy fried chicken) and vegetable fried rice. At a photo area, families posed with hard hats and shovels, capturing memorable moments celebrating the project milestone. Investing in Community Partnership Beyond the Community Day celebration, HPLS has committed to building long-term partnerships with local institutions. The company is collaborating with Louisiana State University and River Parishes Community College to develop workforce training programs, including the RPCC - Hyundai Workforce Training Center in Donaldsonville. In 2026 alone, HPLS donated more than $30,000 to local organizations including the Modeste Food Bank, local youth programs, and community events. "The event marked another opportunity for HPLS to connect with the Donaldsonville community, building on the relationships and engagement already established as the company begins building not only a new steel mill, but also long-term relationships in Louisiana," said Hyung-Jin Kim, CEO of HPLS, "HPLS is grateful to the residents, local leaders and community partners who helped make the day possible and looks forward to continuing to build its future in Louisiana together with the community." The Louisiana steel mill represents Hyundai Steel's first North American steelmaking facility and a cornerstone of Hyundai Motor Group's broader $26 billion U.S. investment commitment. The facility will supply high-quality, low-carbon automotive steel to Hyundai Motor and Kia plants in the U.S. as well as other major automakers, establishing a resilient automotive supply chain. About HYUNDAI-POSCO Louisiana Steel (HPLS) HYUNDAI-POSCO Louisiana Steel (HPLS) is a $5.8 billion landmark investment redefining the future of manufacturing in the United States. Located in Ascension Parish, Louisiana, this first-of-its-kind facility represents Hyundai Motor Group's inaugural steelmaking base in North America - establishing a fully integrated, made-in-America supply chain supporting automotive production nationwide. More information about HPLS can be found at: https://www.linkedin.com/company/hyundai-posco-louisiana-steel/ About Hyundai Steel Hyundai Steel Company is a leading steel manufacturer headquartered in Seoul, Republic of Korea. Established in 1953, Hyundai Steel is a core member of Hyundai Motor Group and supplies high-quality steel products to global industries including automotive, construction, machinery, shipbuilding, and energy sectors. More information about Hyundai Steel, please see: https://hyundai-steel.com/en SOURCE HYUNDAI-POSCO Louisiana Steel