Hyundai Announces New $21 Billion Investment In U.S. Manufacturing
Hyundai on Monday announced a new $21 billion USD investment in the United States over the next four years (2025-2028), which includes $5.8 billion for a new steel plant.
The plant, which will be based in Louisiana, "will create 1,300 American jobs," Hyundai executive chairman Eui Sun Chung told reporters at a White House event alongside President Donald Trump.
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“Hyundai Motor Group is deepening its partnership with the United States, reinforcing our shared vision for American industrial leadership," he said. "The Group’s investment and efforts will further expand our operations in the U.S. and grow our American workforce.”
To reinforce its production capabilities, Hyundai will invest a total of $9 billion to establish an annual production capacity in the U.S. of 1.2 million vehicles across its automotive brands including Hyundai, Kia and Genesis.
In addition, the automaker plans to invest in improving its production facilities, including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia, to further enhance its customer-centric approach in delivering high-quality automobiles.
Another $6 billion will help drive innovation and expand strategic partnerships with U.S. companies in areas including autonomous driving, robotics, artificial intelligence (AI) and advanced air mobility (AAM).