Hyundai Expands U.S. Investment Commitment to $26 Billion
South Korea’s Hyundai Motor Group announced on Tuesday that it will raise its investment commitment in the United States to $26 billion over the next four years, with a strong focus on steel, automobiles, and robotics, according to Yonhap News Agency.
The move, revealed following the first summit between South Korean President Lee Jae-myung and U.S. President Donald Trump in Washington on Monday, marks a sharp increase from the group’s earlier pledge of $21 billion made in March.
In a statement, Hyundai said: “Through this investment, Hyundai Motor Group will respond to U.S. government policies and expand business opportunities across various sectors to strengthen its future competitiveness in mobility and beyond.”
As part of the plan, Hyundai will build a steel plant in Louisiana with an annual production capacity of 2.7 million tons, designed to supply high-quality, low-carbon steel for key strategic industries. “Once completed, the Louisiana plant will help Hyundai Motor Group establish a value chain linking steel, auto parts, and finished vehicles,” the company added.
Hyundai also said its U.S. vehicle production capacity — which stood at 700,000 units last year — will be significantly expanded to include a wider range of models, including electric and hybrid vehicles, though specific figures were not disclosed. In March, the company pledged to increase that capacity to 1.2 million units.