Connect with us

News

Hyundai protects buyers from Trump’s tariffs with assurance program

Hyundai’s new Assurance Program will absorb Trump’s auto tariff costs, keeping prices flat for U.S. buyers. 

Published

on

Hyundai-Georgia-plant-vs-trump-tariffs
(Credit: Hyundai USA)

Hyundai is protecting buyers from U.S. President Trump’s auto tariffs through its new Assurance Program.

The South Korean automaker’s U.S. COO Claudia Marquez launched the Assurance Program at the 2025 New York International Auto Show. The initiative addresses the impact of President Trump’s 25% tariffs on the auto sector, a dominant topic at the event.

Marquez emphasized Hyundai’s commitment to price stability during his announcement. The Assurance Program absorbs tariff-related costs, leveraging Hyundai’s robust U.S. production to mitigate impacts.

Advertisement

“When it comes to the customers, which again is tough and even for us just for planning purposes, what we wanted to make sure is that we have a plan, so we launched our Hyundai Assurance Program, which is confirming and assuring to customers that [prices] are not going to go up, at least this next couple of months,” she told Yahoo Finance.

Hyundai of America produces 40% of its vehicles in the U.S. through its Alabama factory and the newly opened Hyundai Motor Group Metaplant America (HMGMA) in Savannah, Georgia. The Georgia plant began Ioniq 5 production in October 2024 and plans to start Ioniq 9 output by Q1 2025.

“We have a strong representation in the US. We have a factory in Alabama, and just recently, two weeks ago, we opened our new Metaplant in Savannah, Georgia, where we produce our EVs Ioniq 5 and Ioniq 9,” Marquez said.

As President and CEO Jose Muñoz noted, Hyundai’s localization strategy strengthens its tariff resilience. Initially focused on EVs, HMGMA will also produce hybrids following a 2024 dip in EV sales.

“We are looking forward to officially opening Hyundai Motor Group Metaplant America (HMGMA) in Georgia. Our localization strategy in the important U.S. market will help mitigate the impact of any potential policy change,” Muñoz said at the company’s annual shareholders’ meeting.

Advertisement

While Hyundai’s U.S. plants provide a buffer, building such facilities is costly and time-intensive, with potential policy shifts looming by 2028. For now, the Assurance Program and localized production help Hyundai navigate Trump’s tariff, ensuring customer affordability amid trade uncertainties.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

Advertisement
Comments

Elon Musk

Tesla China posts strong February wholesale growth at Gigafactory Shanghai

The update was shared by Tesla observers on social media platform X, citing monthly China Passenger Car Association (CPCA) data.

Published

on

Credit: Grace Tao/Weibo

Tesla China sold 58,599 vehicles wholesale in February, reflecting strong year-over-year growth. The figure includes both domestic deliveries in China and vehicles exported to international markets.

The update was shared by Tesla observers on social media platform X, citing monthly China Passenger Car Association (CPCA) data.

Tesla’s February wholesale result represents a 91% increase year over year, compared with 30,688 vehicles in February 2025. Month over month, the result was down 15.2% from January, when Tesla China recorded 69,129 wholesale units.

The February total reflects combined sales of the Model 3 and Model Y produced at Gigafactory Shanghai. The facility produces the two vehicles for both domestic sales and exports.

Advertisement

Gigafactory Shanghai continues to serve as Tesla’s primary vehicle export hub, supplying vehicles to markets across Asia and Europe. Data compiled by Tesla watchers shows that 18,485 vehicles were sold domestically in China in January 2026, while exports accounted for 50,644 units during the same period.

Tesla has also been extending financing programs in China as it pushes to strengthen domestic demand. The company recently extended its seven-year ultra-low-interest and five-year interest-free financing programs through March 31, marking the second extension of the promotion this year.

The financing initiative was first introduced on January 6 as a strategy aimed at offsetting higher ownership costs ahead of China’s planned 5% NEV purchase tax in 2026. The promotion was originally scheduled to expire at the end of January before being extended to February and then again through the end of the first quarter.

Tesla’s efforts come amid growing competition in China’s EV market. According to data compiled by CNEV Post, Tesla’s 2025 retail sales in China reached 625,698 vehicles, representing a 4.78% year-over-year decline. Part of that decline was linked to the Model Y changeover to its updated variant in early 2025, which temporarily reduced deliveries during the transition period.

Advertisement
Continue Reading

News

Tesla Model Y L spotted on transport trucks in Australia

One of the sightings was reported along Victoria Parade in Melbourne, and it showed multiple Model Y L vehicles on a transport carrier. 

Published

on

Tesla’s upcoming Model Y L has been spotted on transport trucks in Australia. Sightings of the six-seat extended wheelbase Model Y variant have been reported on social media platform X by members of the Australian Tesla community.

One of the sightings was reported along Victoria Parade in Melbourne, and it showed multiple Model Y L vehicles on a transport carrier. 

The sighting follows earlier observations by Tesla enthusiasts in Sydney, where a covered vehicle believed to be a Model Y L was spotted at a Supercharger.

The Sydney sighting drew attention after observers noted that the vehicle’s tare weight appeared to match the ADR approval listing for the Model Y L, suggesting it could indeed be the extended wheelbase variant of the electric SUV.

Advertisement

Tesla has previously confirmed that the Model Y L will launch in Australia and New Zealand in 2026. The confirmation was reported by techAU following a media release from Tesla Australia and New Zealand.

The Model Y L expands the existing Model Y lineup with seating for six passengers. The vehicle features a longer body compared with the standard Model Y in order to accommodate a spacious second and third row.

Tesla has opted for a 2-2-2 seating configuration instead of a traditional seven-seat layout for the Model Y L. The design includes two individual seats in the middle row to provide easier access to the third row and additional passenger space.

Tesla Australia and New Zealand has also stated that the Model Y L will be covered under the company’s updated warranty structure beginning in 2026.

Advertisement

Tesla has not yet announced pricing or official range figures for the Model Y L in Australia.

Continue Reading

Elon Musk

Elon Musk shares timeframe for X Money early public access rollout

X Money is expected to enable financial transactions within the app, expanding the platform’s capabilities beyond social media features.

Published

on

Credit: UK Government, CC BY 2.0 , via Wikimedia Commons

Elon Musk has stated that X Money, the digital payments system being developed for social media platform X, is expected to enter early public access next month. 

The update was shared by Musk in a post on X. “𝕏 Money early public access will launch next month,” Musk wrote in his post.

As noted in a Reuters report, X Money is being developed as a digital payment service that’s directly integrated into the X platform. 

The system is expected to enable financial transactions within the app, expanding the platform’s capabilities beyond social media features.

Advertisement

Musk has previously discussed plans to introduce payments and financial services as part of X’s broader development.

Since acquiring the platform in 2022, Musk has discussed expanding X to include a range of services such as messaging, media, and financial tools.

Elon Musk has shared his goal of transforming X into an “everything app.” During a previous podcast interview with members of the Tesla community, Musk mused about turning X into something similar to China’s WeChat, which allows users to shop, pay, communicate, and perform a variety of other tasks.

“In China, you do everything in WeChat… it’s kickass… Outside of China, there’s nothing like it, people live on one app. My idea would be like how about if we just copy WeChat,” Musk joked at the time.

Advertisement

To prepare for the rollout of X Money, X has partnered with payment company Visa to support the development of payment services for the platform’s users. The move could allow X to tap into the growing demand for digital and in-app financial transactions as the company builds additional services around its existing user base.

Continue Reading