Hyundai Motor's "Musk-Trump Relationship Positive for the Tea Industry"

Hyundai Motor CEO Jose Muñoz has positively assessed the impact of Tesla CEO Elon Musk's relationship with U.S. President-elect Trump on the auto industry as he forecasts the U.S. market in the future.

"It would be positive for the industry to have someone very close to the U.S. industry and the electric vehicle industry in the White House," CEO Munoz told Bloomberg TV.

Regarding the Trump administration's plan to roll back the Biden administration's Inflation Reduction Act (IRA), it also said, "As we did not invest in the United States because of the IRA, we will maintain our existing strategy."

Regarding the political unrest in Korea, he said, "We are watching the situation carefully, but we are focusing on business, and so far, we have not been affected," adding, "We expect the situation to become clear soon."

Asked if the merger of Japan's Nissan and Honda could pose a threat to Hyundai, Munoz stressed that "strengthening competitiveness through self-competence and technology development is more important than ranking within the industry."