As Hyundai Motor Group's executives emphasized their will to overcome this year's crisis, employees identified external factors such as the electric vehicle chasm, the second term of the Trump administration, and U.S.-China tensions, in addition to internal risks like the departure of specialized personnel and intensified silo phenomenon.
At the New Year meeting held on the 6th, Hyundai Motor Group revealed the '2025 crisis and opportunity factors' identified by its employees. The main topic of discussion during the New Year meeting was crisis management, where CEO Euisun Chung and other key executives pointed out the uncertainties in the management environment this year and discussed countermeasures.
Hyundai Motor Company continues to invest in hydrogen vehicles as a future growth engine, but market performance remains limited. Consumer distrust in hydrogen vehicle safety, lack of charging infrastructure, and limited model options are hindering the demand and expansion of hydrogen vehicle adoption.
This year, the cap on government subsidies for electric vehicles has been reduced, which is expected to decrease the subsidies received by major models like the Hyundai Ioniq 5. The Ministry of Environment has decided to lower the basic government subsidy cap for mid-sized and large passenger cars from 6.5 million won to 5.8 million won and for small passenger cars from 5.5 million won to 5.3 million won.
The growing influence of Chinese electric vehicle companies in the global market is also a concern for the domestic finished car industry, including Hyundai Motor Company. BYD, which sold the most electric vehicles globally last year, will officially enter the domestic passenger vehicle market this month. From January to November last year, BYD sold 3,673,000 electric vehicles, a 43.4% increase compared to the same period the previous year, capturing a market share of 23.8%.
The internal risks of the organization include the departure of specialized personnel, intensified silo phenomenon, and delayed decision-making. Chairman Chung also emphasized the importance of communication among members. He noted, "I believe there are mixed feelings of concern and hope regarding the current situation internally," adding, "Every situation has two sides. Ultimately, how we accept the situation is important, and that depends on our mindset. Leaders must lead by example to ensure that employees can have hope that the company will overcome difficulties and make a leap forward."