Hyundai Plans $21 Billion Investment in U.S. Manufacturing

Hyundai Motor Group has announced a significant $21 billion investment in the United States from 2025 to 2028, aimed at bolstering its local production capabilities and establishing its first steel mill in Louisiana. This initiative includes $9 billion dedicated to increasing annual vehicle production capacity to 1.2 million across its brands, while an additional $6 billion will focus on developing local supply chains and enhancing logistics for electric vehicle components. The new steel mill is projected to produce 2.7 million tons of low-carbon steel annually, which will support Hyundai's manufacturing needs. President Trump highlighted this investment as a success of his tariff policy, suggesting it will create jobs and strengthen the U.S. automotive industry. The company is also investing in innovation through partnerships with U.S. firms in sectors like autonomous driving and robotics. Overall, the investment reflects Hyundai's commitment to expanding its presence in the U.S. market amid changing tariff environments.