Hyundai Motor's First Foreign CEO "Ready for U.S. Regulation"

Jose Munoz, the global chief operating officer who was named Hyundai's first foreign CEO, said he was ready for any regulations under the second Trump administration.

President Munoz told reporters at the LA Auto Show that electrification is the way to go in the long run and that he is ready to flexibly adjust it in the process.

He also explained that he thinks the direction set by Chairman Chung Eui-sun and President Jang Jae-hoon is basically right, and that even if he is appointed as president of Hyundai Motor, the company's strategy will not change significantly.

Munoz said tax benefits were not the business base for electric vehicles and that he did not decide to set up a local factory in consideration of the incentives.