Hyundai Motor has named Jose Munoz, 59, as its new CEO, marking the first time a foreigner will lead the South Korean automaker. Munoz, who joined Hyundai in 2019 as global COO, will succeed Jaehoon Chang, who moves up to vice-chairman of Hyundai’s automotive division, effective January 1, 2025. Previously with Nissan for 15 years, Munoz brings extensive experience to Hyundai as it seeks growth beyond South Korea. His leadership comes during a critical time, with the industry facing challenges in the electric vehicle shift, especially as new U.S. policies could impact EV tax credits essential for Hyundai’s popular Ioniq 5.