Hyundai Accelerates US Output to Lighten Profit Hit From Tariffs
Workers assemble vehicles on the production floor at the Hyundai Metaplant electric vehicle manufacturing facility in Ellabell, Georgia.
Photographer: Elijah Nouvelage/BloombergHyundai Motor Co. plans to ramp up US production and cut expenses to shield the South Korean carmaker from tariffs that are eating into profit in its biggest market.
“Tariffs are hurting,” Chief Executive Officer José Muñoz told reporters at an event in Milan on Monday. “In the short term, it is really tough.”