Hyundai Motor Group has pledged a $21 billion investment in the United States from 2025 to 2028. The investment seeks to enhance manufacturing, strengthen supply chain resilience, and financial fund future technologies and advancements. The investment was announced Monday, March 24, at the White House by President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Gov. Jeff Landry.
Hyundai will allocate $9 billion to scale U.S. automobile production to 1.2 million units across its brands Hyundai, Kia, and Genesis. In addition, the automaker will continue to invest in improving its manufacturing facilities, including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia.
$6 billion of the overall investment will be allocated to strengthening the United States supply chain and localizing core automotive components, particularly for electric vehicles (EVs). Hyundai Steel will construct a new Electric Arc Furnace (EAF) steel mill in Louisiana. It’s estimated that the new facility will be able to produce 2.7 million tons of steel annually and reduce reliance on foreign materials to improve the U.S.’s supply chain stability.
Hyundai will also invest $6 billion through strategic partnerships to support the technological advancements in the automotive industry, targeting key initiatives such as autonomous driving, robotics, AI, and advanced air mobility (AAM). Several of these partnerships include NVIDIA, Waymo, and Boston Dynamics.
It’s estimated that Hyundai’s investment will generate over 100,000 jobs by 2028, 14,000 of which will be full-time direct jobs within the United States. Hyundai’s commitment to investing in the United States automotive industry is a significant win for the United States. The White House also disclosed that several other automakers plan to make substantial investments in the United States, including Stellantis, Volkswagen, Honda, Nissan, Rolls-Royce, and Volvo.
