Electric vehicle shift faces unexpected delays, says Hyundai CEO

In April 2025, Semafor's World Economy Summit in Washington, DC, gathered influential policymakers and CEOs to discuss mobility and transportation infrastructure. One key participant, Jos Muoz, President and CEO of Hyundai Motor Company, addressed the pressing issues facing the automotive industry, including the continued transition to electric vehicles. Muoz remarked that despite the strong belief in an electric future, progress is slower than anticipated due to various factors impacting sales in different regions. He emphasized that this sluggish advancement is influenced heavily by model launches and government support for necessary infrastructure. Among other notable speakers were Scott Kirby, CEO of United Airlines, and Sean Duffy, US Transportation Secretary. Kirby, reflecting on mobility trends, focused on the revival of air travel but acknowledged ongoing challenges in meeting passenger demand and improving service. Secretary Duffy emphasized the need for strategic infrastructure investments to enhance the nation's transportation capabilities amidst a rapidly evolving landscape shaped by technology and public expectations. In addition to the automotive industry, the summit also highlighted Dubai's ambitions, with Hadi Badri, CEO of the Dubai Economic Development Corporation, sharing insights on attracting businesses and innovation to the region. Badri noted the city's strategic position as a logistics and trade hub, while commenting on its goals to diversify into financial services and manufacturing. He stressed the importance of ensuring residents' happiness and economic engagement as key indicators of Dubai's success in these endeavors. The event also touched on issues surrounding talent attraction and retention, with onsemi CEO Hassane El-Khoury discussing the importance of solid immigration policies to maintain a skilled workforce in the United States. He highlighted the risks of educating and training talent only for them to leave due to uncertain pathways for staying in the country. Overall, the discussions at the summit pointed to the complexities and interdependencies shaping the future of global mobility, the economy, and the roles of companies and governments in responding to these changes.