CEO José Muñoz

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New chief executive officer (CEO) of Hyundai Motor Co. shared his insights in an interview with the press at Los Angeles Auto Show. Hyundai Motor Co. announced the appointment of José Muñoz as the company’s President and CEO, effective January 1st, 2025.

He talked about fiercer competition with Chinese automakers, “In my decades in the industry, I’ve never seen anything like such intensifying rivalry.”

The new CEO added, however, that any disruption brought about by industrial changes also creates new opportunities. Hyundai Motor’s core strength lies in its speed, which Muñoz aims to refine into a “Do fast yet ahead” strategy that will focus on not just rapid responses but proactive innovation to stay ahead of market trends.

Smarter technologies exceptional service quality are the key to sustainable success amid the rapid rise of Chinese automakers. “While some Chinese electric vehicles may fall short in terms of quality or service, Hyundai Motor must strive to offer the very best in the areas,” he said.

When asked about the company’s preparation for a possible repeal of Inflation Reduction Act (IRA) by Donald Trump’s next administration in the United States, Muñoz said that the company‘s entry into the U.S. began during Trump’s first term indeed but that there is still need for some flexibility to adapt to fast-changing markets.

Muñoz’s remarks underline Hyundai Motor’s commitment to innovation and adaptability as it navigates an evolving global automotive landscape.