Name: Hyundai Motor CEO All-In on America
Uploaded: 2026-01-31T14:00:00Z
Duration: 8 min 35 s
Description: In an exclusive interview, Hyundai Motor CEO José Muñoz explains why the company is doubling down on the U.S. market, even as tariffs and policy changes upend the auto industry.

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In an exclusive interview, Hyundai Motor CEO José Muñoz explains why the company is doubling down on the U.S. market, even as tariffs and policy changes upend the auto industry. Photo: Daniel Smukalla for WSJ

https://m.wsj.net/video/20260129/80e764d6-8389-4c2a-a3e3-ec2d04023064/2/hls/manifest-hd-wifi.m3u8

In an exclusive interview, Hyundai Motor CEO José Muñoz explains why the company is doubling down on the U.S. market, even as tariffs and policy changes upend the auto industry.

Hyundai Motor CEO All-In on America

America is the most important market for Hyundai. And then I remember some of the first conversations with Executive Chair saying that, Hey, if we really wanna continue to grow, and then we want to cement our position in this market, we need to have a bigger presence. We want to ensure that at least 80% of what we sell in the US is produced in the US. This is the best recipe to be successful, and to not be dependent on policies.

Interviewer: Under Jose Munoz, Hyundai is betting around $26 billion on the US, scaling up production, and retooling its product mix over the coming years.

We started first with a shift in the products that we were producing. So you may know that back in the 2019, we were producing passenger cars. So Elantra and Sonata mainly. And then we thought that we had to shift to SUVs, so we brought a Tucson, Santa Fe, and also, we made plans to bring Genesis products, and today, we are producing GV 70, and GV 70 EV in our plant, and then we made an announcement that we were gonna build our plant in Savannah, Georgia to produce, originally EV's, right? So we saw the opportunity of growing in the market, being localized before all this situation of tariffs, and even before IRA. And then now we found that all this has been in our benefit.

You're the first non-Korean CEO of Hyundai Motor, and in fact, you're the first non-Korean to lead any of the big Korean conglomerates. And I just wonder, how has that influenced the way you lead Hyundai, that unique background?

So I'm not focused being the, the first non Korean. I'm a humble guy, and just try to do my best no matter what. What is very clear to me is that Hyundai is the largest Korean company, and then is grown a lot, and is become one of the most advanced tech company, mobility company. So, and it's a really a big responsibility. So because there are a lot of people watching the company. So I don't think about a nationality, honestly.

Nonetheless, you come in really just about, just over a year ago as Hyundai CEO, and I wonder what are some of the changes you've made? What if I sat in on a meeting today versus your predecessors, how are things different?

One of the innovations that I have brought to Hyundai, I call it the PM square. So one of the strengths that I've observed in Hyundai is the Pali Pali concept, which is very Korean. To be very fast, very agile, very nimble on the execution of things, or changing direction, taking opportunity of situations. But I've always said that having a baseline plan is very important. Having worked many years with Japanese corporations, right? And then I learned that the appropriate word to plan in Korean is midi. I'm gonna develop the so-called PM square, pali pali midi midi. So this is something that has helped me convey to our colleagues from the different regions, but also the headquarters, the kind of things that I would like to do, which is to plan ahead, to see the different options, the different scenarios of what the company may encounter, and then have a very thorough plans, but at the same time, being able to change them and to adjust to the circumstances. I think that will be probably the key highlight.

I wanted to ask you about the Georgia, and the ICE raid, and I'm curious, where were you when you heard the news, and what were your next steps?

Yeah, I was in my office in Fountain Valley, and I was shocked, because I saw our facility, but in reality, the event didn't take place in our facility. They explained to me what happened at the LG Energy Solutions factory, but because they are in the same piece of land in the mega site, then immediately people took some of these images, and then I immediately was reported that they were not Hyundai Motor Company employees. All our employees have appropriate visas. Most of the workers that were there that they, they went back to Korea, and then they got new visas, and they came back to work. You know, these people, they do a specialized work. South Korean companies, like maybe other companies in other countries, they have specific technologies that are not available in the United States today. So we are very proud to be a very American company, to have created in America, more than 570,000 employees with all the affiliates directly and indirectly.

We're in the middle of this EV transition, and I wonder why is the transition to EV unfolding on a different timetable than many people thought?

To me, the two main factors that I see is one is the infrastructure development, and the other one is the regulation, right? So it's obvious that when you don't have a network of chargers that can give you peace of mind as a consumer to be able to recharge your vehicle when you need it, then you have certain hesitation depending on the type of ride that you're gonna have with your car, right? So everybody knows the States is probably the country in the world where the average usage and the mileage on vehicles is the highest, because public transportation is maybe not as developed as in other countries. The other one is regulation. So I have an office in Southern California, and Southern California, a lot of the customers, they see the commuting as, you know, a great way to utilize their EV's. It's a way to save money in terms of fuel, and then they contribute to lower the emission regulation, et cetera. These are the two factors.

10 years from now, how will Hyundai be looking and operating differently than it is today?

I think we will have achieved our midterm plan goals. So the company would have overachieved the 5.55 million car sales globally as Hyundai Motor Company. We would be selling more than two thirds of all our cars electrified, in some markets, much, much higher. We would have introduced more than 18 new hybrids. We would have executed on our investment. We would have more than 80% localization in America. America would be even more important than it is today, and we would be having significant mix of our vehicles with autonomous technology from our own group, and probably operating our own fleet. In our plans, you would see in not only in the sequencing, but in the line, eh, robots working. We already have robots. If you go to Savannah, you would see AGVs, which we call, which are moving autonomously. We would have adjusted the way we operate in the factories, and then ultimately we would be closer to delivering the progress for humanity, which is our direction from the executive chair, which has been given so many good results to the company, right? I say that we are not an OEM, we are a tech company. We are a mobility company that happens to sell cars.