March 24 (Reuters) – South Korea’s Hyundai Motor Group announced a $21 billion investment in the United States with President Donald Trump at the White House on Monday.
The investment includes a new $5.8 billion Hyundai Steel plant in Louisiana that will produce over 2.7 million metric tons of steel annually, creating more than 1,400 jobs. The steel plant is expected to supply steel to auto plants in Alabama and Georgia.
Of the total, Hyundai also plans to invest $9 billion by 2028 to boost U.S. production capacity to 1.2 million vehicles in the United States and $6 billion to expand strategic partnerships with U.S. companies in autonomous driving, robotics, artificial intelligence, and advanced air mobility, the company said.
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