Hyundai Announces $21 Billion Investment Plan For U.S.

The Korean auto giant seems least bothered by the news of Donald Trump imposing high tariffs on many products from various nations

Hyundai has an investment plan of a whopping $21 billion in the U.S. within the next three years to expand its operations and create new tech. The Korean car marque confirmed that it will invest this amount between 2025 and 2028. Clearly, the automaker is betting big on the U.S. market. This is understandable after its best sales year in the U.S. ever last year. It sold a record 836,800 vehicles, which is 4% higher than in 2023.

You might also like: Hyundai Ioniq 5, Ioniq 6 Customers Can Now Get Free Home Chargers

Hyundai Announces $21 Billion Investment Plan

As per the official press release, Hyundai will deploy $9 billion to expand its automobile production capacity to 1.2 million units annually. This will include Hyundai, Kia and Genesis car models. Additionally, $6 billion will go towards enhancing parts, logistics and the steel business. This will strengthen the supply chains and increase the localization of auto parts. Clearly, these are strategic measures for long-term operations.

Thereafter, it will use another $6 billion to expand future industries and strengthen external partnerships and energy infrastructure, including EV charging. This amount will incorporate improving the existing facilities like the Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia. Hyundai Steel, the Group’s steel affiliate, will construct an Electric Arc Furnace (EAF) steel mill in the state of Louisiana. It is capable of producing 2.7 million tons of steel annually.

Moreover, the investment is expected to create more than 100,000 direct and indirect job opportunities by 2028, including 14,000 direct full-time jobs. In fact, the last $6 billion will even include collaboration with Boston Dynamics and NVIDIA to develop AI solutions and robotics components for future mobility in addition to autonomous driving. Interestingly, Hyundai has already invested $20.5 billion in the U.S. since 1986.

The press release mentioned, “Hyundai Motor Group is deepening its partnership with the United States, reinforcing our shared vision for American industrial leadership. The Group’s investment and efforts will further expand our operations in the U.S. and grow our American workforce. Thank you to our American partners, employees, and communities. We’re proud to stand with you, and proud to build the future together.“

You might also like: Hyundai Ioniq 5 N TA Spec Creates Fastest EV Record

Learn Electric Cars Says

This is an unequivocal confirmation that Hyundai has massive plans for the American market. In fact, as per the press release, it plans to hold its Hyundai Motor Group Metaplant America Grand Opening celebration in Georgia later this week. It will mark the completion of the largest economic development project in Georgia’s history, just two and a half years after breaking ground. Let us keep an eye out for how things pan out for Hyundai in the U.S. in the times to come.