Hyundai Announces $21 Billion US Expansion Plans, Aiming for 14,000 Jobs

Hyundai Motor Group is set to invest $21 billion in the U.S. between 2025 and 2028, a significant move aimed at boosting its manufacturing footprint and creating approximately 14,000 jobs. This investment includes $9 billion dedicated to increasing annual production capacity to 1.2 million vehicles across its Hyundai, Kia, and Genesis brands. The company's new electric vehicle (EV) plant in Georgia, which will officially open soon, is part of this expansion, with plans to ramp up production of models like the Ioniq 5 and Ioniq 9. Additionally, Hyundai aims to localize the production of critical automotive components and develop new energy technologies, including a $6 billion investment in an Electric Arc Furnace steel mill in Louisiana. President Donald Trump has praised Hyundai's commitments, suggesting they validate his tariff policies designed to encourage foreign manufacturers to create U.S. jobs. While these investments are seen as beneficial for manufacturing growth, economists caution that tariffs may lead to higher costs for businesses and consumers.