Hyundai CEO Warns US Next Target for Cheap Chinese EVs — SkimNews
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- Hyundai CEO Jose Munoz told Reuters the US could face a wave of cheap Chinese EVs without safeguards, noting Chinese vehicles are already 30–40% cheaper than comparable brands in tariffed European markets like Italy, Spain, and France.
- The UK, which has no barriers on Chinese imports, has become "like China," Munoz said — Chinese brands now hold over 15% of new car registrations, all top sellers are Chinese, and EVs are more affordable than petrol cars.
- BYD registered 48,265 UK vehicles through August, nearly double the 24,333 in the same period of 2025, pushing its market share from 1.92% to 3.48%; its cheapest model, the Dolphin Surf, starts at £18,675 (~$25,000).
- UK SMMT data shows EVs hit 29.8% of August new car registrations (the second-highest monthly share this year), with EV sales up 28.6% year-to-date while petrol sales are down 3%.
- The US currently blocks Chinese EVs with a 100% import tariff plus restrictions on connected-vehicle software, batteries, and key minerals — though Trump told Fox News last week he'd be open to letting Chinese automakers in if they build in the US.
- Ford CEO Jim Farley has separately called Chinese EVs an "existential threat" with "devastating" economic impact, warning employees in July to prepare for Chinese competition in the US within 5 to 10 years.
Why it matters: The UK shows the trade-off US policymakers now face: Chinese competition accelerated EV adoption (EV sales +28.6%, petrol -3%) and made EVs cheaper than petrol cars, but handed Chinese brands 15%+ of the market in just years. US automakers are building sub-$35K EVs as a hedge — Ford's $30K Fathom pickup (2027), Kia's $29,890 EV3 — but if Trump's openness to Chinese-assembled vehicles wins out, that moat disappears.
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