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Hyundai Motor Group Commits to US$21 Billion Investment for U.S. Growth
03/27/2025 - Hyundai Motor Group (the Group) has announced an investment of US$21 billion between 2025 to 2028, including building an electric arc furnace (EAF) steel mill in Louisiana, focusing on expanding manufacturing, advancing technologies and enhancing energy infrastructure in the U.S.
“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,” Hyundai Motor Group said in a statement.
Hyundai Motor Group said that US$9 billion will go toward annual production capacity in the U.S. of 1.2 million vehicles across its automotive brands Hyundai, Kia and Genesis. They will also improve production facilities including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia “to further enhance its customer-centric approach in delivering high-quality automobiles.”
US$6 billion will be used to localize automotive components including core parts for electric vehicles such as battery packs and strengthening logistics for better supply chains and investing in U.S. steel production. Hyundai said it will construct an electric arc furnace (EAF) steel mill in Louisiana. They estimate it will be capable of producing 2.7 million tons of steel annually, producing low-carbon steel sheets using U.S. steel scrap.
US$6 billion will be invested to innovate and expand partnerships with U.S. companies in areas such as autonomous driving, robotics, artificial intelligence (AI) and advanced air mobility. They will also invest in energy infrastructure projects “to secure new business opportunities and contribute to the development of sustainable energy generation.”
More key initiatives can be found here.
Hyundai Motor Group said it expects the investments will create 14,000 new full-time jobs in the U.S. by 2028. The overall economic impact is expected to create more than 100,000 direct and indirect job opportunities in related industries.
Hyundai Motor Group said that US$9 billion will go toward annual production capacity in the U.S. of 1.2 million vehicles across its automotive brands Hyundai, Kia and Genesis. They will also improve production facilities including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia “to further enhance its customer-centric approach in delivering high-quality automobiles.”
US$6 billion will be used to localize automotive components including core parts for electric vehicles such as battery packs and strengthening logistics for better supply chains and investing in U.S. steel production. Hyundai said it will construct an electric arc furnace (EAF) steel mill in Louisiana. They estimate it will be capable of producing 2.7 million tons of steel annually, producing low-carbon steel sheets using U.S. steel scrap.
US$6 billion will be invested to innovate and expand partnerships with U.S. companies in areas such as autonomous driving, robotics, artificial intelligence (AI) and advanced air mobility. They will also invest in energy infrastructure projects “to secure new business opportunities and contribute to the development of sustainable energy generation.”
More key initiatives can be found here.
Hyundai Motor Group said it expects the investments will create 14,000 new full-time jobs in the U.S. by 2028. The overall economic impact is expected to create more than 100,000 direct and indirect job opportunities in related industries.
