Hyundai Commits $21 Billion to US Auto Manufacturing

Hyundai Motor Group has committed to investing $21 billion in U.S. manufacturing over the next four years, according to a statement released on Monday.

The investment will be allocated to expand auto manufacturing, parts supply chains and infrastructure for electric vehicles, creating some 14,000 full-time jobs and potentially accounting for as many as 100,000 "direct or indirect" positions through 2028.

"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,"

The company plans to update factories in Alabama and Georgia, build a steel mill in Louisiana that will turn U.S. scrap steel into new parts, and invest in U.S. manufacturing of battery packs for EVs, increasing robotics production and developing AI.

Hyundai aims to eventually produce 1.2 million vehicles per year in the U.S., which will be sold as Hyundai, Kia, and Genesis models.

"There are no tariffs if you make your product in America," said President Donald Trump at a White House event. "Cars are coming into this country at levels never seen before. Get ready."