Hyundai announced on Monday a new investment of $21 billion in the United States from 2025 to 2028.
The move is seen as a way for the South Korean automaker to avoid President Donald Trump's tariffs by moving more operations to America. The announcement included news that the company would be building a new steel plant in Louisiana.
"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," a Hyundai spokesperson said in a news release on Monday.
According to Hyundai, the company will invest a total of $9 billion to establish an annual production capacity in the U.S. of 1.2 million vehicles across its automotive brands, Hyundai Motor, Kia, and Genesis.
Hyundai also announced plans to invest in "improving their production facilities," including Hyundai Motor Manufacturing Alabama in Montgomery and Kia Autoland Georgia, to "further enhance its customer-centric approach in delivering high-quality automobiles."
Hyundai didn't give any other details about the new investment in Alabama on Monday. The Alabama Department of Commerce said it hadn't heard any details yet about a new investment by Hyundai.
"We do not have any details of how that could impact Alabama. With the upcoming May 3rd celebration of 20 years of HMMA, we certainly look forward to continuing our wonderful friendship with Hyundai and welcome any opportunities to broaden that relationship," Stefania Jones, chief external affairs officer with the Alabama Department of Commerce, told 1819 News on Monday.
Nationally, Hyundai estimates the new $21 billion investment in the United States will create 14,000 new direct full-time jobs by 2028. The overall economic impact is expected to generate more than 100,000 direct and indirect job opportunities across related industries.
The company plans to hold its Hyundai Motor Group Metaplant America Grand Opening celebration in Georgia, U.S., later this week, marking the completion of the largest economic development project in Georgia's history, just two and a half years after breaking ground.
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