Hyundai Motor Group announces large-scale investment in the U.S.

Hyundai Motor Group plans to make major investments in the U.S. economy between 2025 and 2028, totaling up to $21 billion. The investment focuses on key business-to-business (B2B) areas such as manufacturing, supply chain logistics, steel production, and next-generation travel technologies. Of this, $9 billion will be used to increase the annual automobile production capacity of Hyundai, Kia, and Genesis brands in the United States, with the goal of reaching 1.2 million vehicles. In addition, $6 billion will be used for localization of automotive parts, logistics optimization, and steel production. Hyundai Steel will build a new electric arc furnace (EAF) steel plant in Louisiana, which is expected to produce 2.7 million tons of low-carbon steel annually. Another $6 billion will be used for advanced technology cooperation and energy infrastructure projects.