Trump’s backing of Chinese vehicles challenges Hyundai Motor Group

U.S. President Donald Trump’s repeated advocacy for investment by Chinese carmakers ahead of his summit with Chinese President Xi Jinping later this week is raising the alarm for Hyundai Motor Group, experts and industry officials said Tuesday. While Chinese automakers are still viewed as unlikely to enter the U.S. vehicle market in the near term due to lingering regulatory barriers, Trump’s outward support for Chinese investment in U.S. manufacturing could eventually reshape the competitive landscape, particularly in the electric vehicle (EV) sector. In January, Trump said it would be great if Chinese carmakers built factories in the U.S. and hired more American workers. Trump’s remarks have unsettled the U.S. auto industry, which has long opposed Washington’s potential move to allow the influx of low-cost Chinese EVs. Industry officials fear Chinese carmakers could leverage their aggressive pricing and advanced battery technologies to rapidly expand their share of the EV market in the U.S. It remains unclear whether Trump and Xi will discuss the agenda during their upcoming sum

Original source: Korea Times