South Korea’s Hyundai Motor Group has unveiled a massive $21 billion investment plan in the United States, marking its largest-ever commitment to the country.
The move is seen as a strategic effort to shield itself from potential tariffs under a future Donald Trump administration.
The automaker detailed its ambitious plans, including a $9 billion investment by 2028 to create 14,000 full-time jobs and increase its U.S. production capacity to 1.2 million vehicles. Additionally, Hyundai will allocate $6 billion toward expanding partnerships with American companies in autonomous driving, robotics, artificial intelligence, and advanced air mobility.
A significant portion of the investment—$5.8 billion—will go toward constructing a Hyundai Steel plant in Louisiana, which is expected to produce over 2.7 million metric tonnes of steel annually and create more than 1,400 jobs. The steel facility will supply Hyundai’s auto plants in Alabama and Georgia, further strengthening its U.S. manufacturing footprint.
Hyundai is also set to host an opening ceremony on Wednesday for its new $7.59 billion electric vehicle and battery factory in Georgia. The company currently operates a plant in Alabama, while its affiliate, Kia, runs a facility in Georgia. The two existing factories have a combined production capacity of 700,000 vehicles annually, with the new Georgia plant expected to add another 300,000 vehicles once fully operational.
Former U.S. President Donald Trump acknowledged Hyundai’s investment, stating, “We’re delighted to report that Hyundai is announcing a major $5.8 billion investment in American manufacturing. Money is pouring in, and we want to keep it that way.”
The announcement comes as Trump threatens to impose reciprocal tariffs on multiple countries by April 2, with South Korea potentially among the targets due to its trade surplus with the U.S. Hyundai’s latest investment underscores its efforts to solidify its presence in the American market and navigate potential trade uncertainties.
