Hyundai Motor chief vows to stick to EVs, no matter who wins U.S. election

With fate of IRA uncertain, automaker favors strategy that avoids reliance on subsidies

20241028 Jaehoon Chang, president and CEO of Hyundai Motor Interview main image

"Whoever wins [the U.S. presidential election], we are prepared for any scenario," Hyundai Motor CEO Chang Jae-hoon told Nikkei Asia. (Photo by Suzu Takahashi and Getty Images)

KIM JAEWON, Nikkei staff writer

October 28, 2024 15:13 JST

TOKYO -- The chief executive of Hyundai Motor said that the South Korean company will continue to deliver competitive electric vehicles for U.S. customers even without government subsidies, expressing the company's strategy to not be affected by Washington's energy policy after its tight presidential election next week.