Hyundai Chair Warns Tough Year Ahead for Auto Industry Amid Geopolitical Turmoil, Urges AI Boost
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CNBC TV18•05-01-2026, 11:45
Hyundai Chair Warns Tough Year Ahead for Auto Industry Amid Geopolitical Turmoil, Urges AI Boost
- •Hyundai's Chung Euisun warns of a challenging year for the global auto industry due to geopolitical uncertainty, trade disputes, and competition.
- •US tariffs (15% on Korean cars) by Donald Trump led to Hyundai losing 1.8 trillion won ($1.2 billion) in Q3.
- •An immigration raid delayed construction at a Hyundai-LG Energy Solution Ltd. plant in the US by 2-3 months.
- •Chung emphasizes improving Hyundai's AI capabilities, noting the company lags competitors.
- •Hyundai plans to invest 125 trillion won in AI, robotics, and advanced tech in South Korea over five years, with Motional aiming for Ioniq 5 robotaxi commercialization in Las Vegas this year.
Why It Matters: Hyundai faces a tough year with geopolitical risks, tariffs, and an urgent need to boost AI capabilities.
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