Hyundai Motor eyes Europe, India, China amid prolonged US tariff shock

Hyundai Motor will navigate its unceasing tariff risks in the United States by scaling up presence in Europe, India and China — three major powerhouses with strong potential for growth in eco-friendly vehicles, the carmaker’s CEO Jose Munoz said. The global strategy reflects the carmaker’s willingness to offset its U.S. earnings decline through other territories in the mid- to long-term, by using the carmaker’s strength in developing and manufacturing electric vehicles (EVs). The carmaker shared the vision during its annual CEO Investor Day event in New York, Thursday (local time), to alleviate mounting investor concerns over the firm’s steep earnings fall caused by the aftermath of the U.S. government’s imposition of a 25 percent auto tariff. The company’s operating profit plunged 828.2 billion won ($593 million) in the second quarter from a year earlier, and the figure is widely expected to increase in the third quarter due to the prolonged tariff shock. Hyundai Motor is going all out to boost its EV sales in Europe in particular. The automaker is set to launch its much-hWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times