Hyundai Motor Co., which says

<Hyundai Motor Co., which says it's all good, I think it's a little different>

Hyundai Motor Chairman Chung Eui-sun announced his strong will by showing a video of "BYD's Vehicle and Tesla Optimus" in his 2025 New Year's address.

(Chairman Chung Eui-sun)
"There are challenges ahead that cannot be avoided. But we don't need to be daunted by the challenges and uncertainties ahead of us."
"We should use the crisis as an opportunity."

Despite Hyundai Motor's all-time performance in the U.S., it is a unique move by the chairman to "discuss crises and challenges."

When you search for the news, "As expected, the most visionary company in our country is Hyundai Motor!" and everyone seems to see it great.

But I write down my personal thoughts that are a bit critical.

Hyundai (including Kia) actually sold its cars pretty well in the global market in 2024.
The total global sales amounted to 7.23 million units, with more than 1.7 million units sold in the U.S. alone, and electric vehicles (+Hiverib) also made a good progress.
*Total U.S. Sales: 1.7 Million Units
- Hyundai: 836,000 units
- Kia: 796,000 units
- Genesis: 7.5 million units

For Hyundai, the U.S. market is very, very important.
It accounts for about 25% of the total global sales volume.
*Domestic sales stake is approximately 18% / overseas stake is approximately 82%
*The share of the U.S. market among overseas markets is >30%

For Hyundai, the U.S. may be a >10 percent more important market than domestic demand

But it will be very challenging in the future because of Hyundai's most threatening existence, "Tesla."

Wait a minute,
"Tesla sold only about 630,000 units in the U.S. market last year, and its global total is 1.79 million units, which is only a quarter of Hyundai Motor Group's (7.23 million units), so what is the threat?"

To be precise, Tesla's "autonomous driving (FSD)" is the reason why the Tesla is a big enemy for Hyundai.

So far, it's okay.
The transition to electric vehicles is slow in the U.S. except for California and the U.S., so it is true that internal combustion engine cars, including hybrids, sell very well. (Going forward)

And while Hyun Gi's EV line-up (Ionic 5, EV6, EV9) margin is not much, its cost-effectiveness is good, and the U.S. EV market share is doing very well at 9.5% (2nd place) as of 2024.
*EV Share in U.S. Market
1st place) Tesla (49%)
2nd place) Current train (9.5%)
3rd place) GM (7.3%)
4th place) Ford (7%)

Why is it a crisis when you're so good?
Now, let's open them one by one.

Tesla is planning to launch a 100% self-driving robotaxi based on Tesla's self-driving (FSD) within the first half of this year.

There is no need for a car (cybercap/lobovan) exclusively for robo-taxi to come out immediately. You just need to use about 3 million vehicles currently deployed across the U.S.
The moment the vehicle installs the FSD software, it becomes an "autonomous car/robotaxi."

And it plans to launch a driverless, driverless, robo-taxi service in the form of Uber, starting in California and Texas. (Just like Waymo robo-taxi now)

Magical things happen to ordinary owners who don't operate Uber.
If I install the FSD as an OTA in my original car (manual car), my car will become a self-driving car.

Now, about one-third of all owners, or 1 million people, have already purchased FSD and are enjoying it as a supervisor.

(To be continued next time)