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South Korean Auto Giant Hyundai Will Invest $20B in America to Bolster EVs Hyundai will pour $20 billion into building up its U.S. manufacturing, including a $5 billion steel plant in Louisiana, where around 1,500 workers will be hired to make advanced steel for electric vehicles.
That information is reportedly expected to be announced Monday at the White House by President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry.
The steel will be used at Hyundai’s two car factories in Alabama and Georgia. That’s where Hyundai is already making electric cars that compete directly with Tesla. On top of this, Hyundai is also expected to reveal a third U.S. car plant, again in Georgia, during the same White House event.
Hyundai speeds up U.S. expansion ahead of Trump’s tariff deadline
Hyundai’s move comes just days before April 2, when Trump is expected to push out new tariffs against countries with trade surpluses, including South Korea.
Companies are now rushing to get ahead of that. Taiwan Semiconductor and SoftBank have already made their trips to the White House in the past two months to announce their own American expansions. #EVManufacturing #USInvestment #HyundaiSteelPlant #ElectricVehicles #MadeInUSA #HyundaiEV #GreenEnergyInCrypto