Hyundai Motor CEO Jose Munoz recently warned that Chinese electric vehicle manufacturers could capture significant market share in the United States if current trade barriers and high tariffs are removed. The executive expressed concerns that the US market could face a situation similar to the European auto market.
According to Munoz, Chinese electric vehicles are priced 30% to 40% lower than competing models in markets such as Italy, Spain, and France. These price differences persist despite existing European Union trade barriers, including tariffs and minimum pricing commitments implemented to counter state subsidies.
The executive highlighted the United Kingdom as a key example of a market without significant trade barriers. In the UK, Chinese electric vehicles have gained substantial popularity, with Munoz noting that they currently dominate the top-selling positions in that country.
Data from the first half of 2026 shows that Chinese-made vehicles accounted for 9% of total auto sales in the European Union. In contrast, their share of the UK auto market reached 15% during the same period, illustrating the impact of trade policy on market penetration.
