Hyundai announced a $21 billion investment in the U.S. to expand its operations, including a new $5.8 billion steel plant in Louisiana. The new Hyundai steel plant will employ more than 1,400 people and provide advanced steel for Hyundai’s electric vehicle production in the U.S.
Hyundai’s Investment Announced at the White House
The investment was revealed at the White House by former President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry.
Hyundai CEO: Local Production Helps Avoid Trade Barriers
Hyundai Motor CEO José Muñoz said that increasing production in the U.S. is the best way to deal with tariffs, is growing its U.S. presence to avoid tariffs, following other global companies like Taiwan Semiconductor Manufacturing Co. and SoftBank.
