The Korean automobile industry should not be dragged into the negative stance of electric vehicles that U.S. automakers (except Tesla) have recently been calling out.

They are trying to save the domestic market from Tesla, a difficult opponent to overcome even if all of the future markets are transferred to electric vehicles, and rely on the boom to extend the life of internal combustion locomotives as much as possible, but this will eventually lead to Chinese electric car companies paying the global electric car market except for the United States.

Korean makers are in a very troublesome position in that the situation in the United States has left the industry and become a trade and political strategy such as the IRA.

Due to pressure from the U.S., not only finished cars but also related parts and materials companies are entering the U.S., and the market atmosphere that slows demand for electric vehicles could be fatal to the growth of the U.S. electric vehicle market, and if Trump is elected, he will have to endure a triple whammy.

If it is difficult to be politically independent of the United States, there is no reason for us to step up and give up our possibilities in other markets. For example, there is no law not to sell Korean or third-party locally made electric vehicles outside of the United States. A clear example of this is Tesla, which produces directly in China and sells out massive electric vehicles. (No more excuses for Chinese nationalism.)

It would be a matter of one’s own to be pushed by quality/price competitiveness in the market, but prematurely wearing a headband on a fight that does not have to be fought is just a suicide. It is only a difference in speed, and the electric vehicle market continues to be a natural trend in many markets, and in the end, the future is determined by who preempts the market first, and localization of production is very important, especially at a time when subsidies are still in power.

Southeast Asia and India, in particular, have already far exceeded China’s population, and the motorcycle market is truly the fastest growing market in the world. However, an important thing these countries have in common is that they apply a very strong level of “localization” to their subsidy policies, as is the case not only for finished cars but also for batteries. In this regard, I believe that Korea is a very rare player with skills and experience skilled in battery + finished car + service.

There is always a crisis. But if you turn your eyes, you can see a new market as rain, just because you haven’t been there. Now is the time when the essence of bats is needed.