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Hyundai Motor Group Announces USD 21 Billion Investment To Boost U.S. Operations And Job Creation
Hyundai Motor Group is set to invest USD 21 billion in the United States between 2025 and 2028. This investment aims to boost manufacturing, advance future technologies, and improve energy infrastructure. The initiative builds on the Group's previous USD 20.5 billion investment since its U.S. market entry in 1986.
The Group plans to allocate USD 9 billion to increase its U.S. automobile production capacity to 1.2 million units annually. This expansion involves enhancing facilities like Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia, focusing on delivering high-quality vehicles.
A further USD 6 billion will be invested in increasing the localisation of automotive parts, including key components for electric vehicles (EVs). This effort aims to create a robust auto cluster and strengthen supply chains by investing in logistics and steel production within the U.S.
Hyundai Steel, an affiliate of the Group, will build an Electric Arc Furnace steel mill in Louisiana. This facility will produce 2.7 million tons of low-carbon steel annually using local steel scrap, enhancing agility amid external uncertainties.
The Group is dedicating USD 6 billion towards innovation and partnerships in areas like autonomous driving, robotics, AI, and advanced air mobility (AAM). Collaborations include working with Boston Dynamics on robotics components and NVIDIA on AI solutions for future mobility.
Additionally, Hyundai Motor Company is partnering with Waymo for robotaxi supply and co-developing autonomous driving services with Aptiv. The Group also plans to support U.S. startups specializing in mobility, robotics, and AI through venture capital investments.
Energy Projects and Job Creation
Part of the USD 6 billion investment will focus on energy infrastructure projects aimed at sustainable energy generation. Initiatives include collaborating with Holtec International on Small Modular Reactor technology and expanding renewable energy use through strategic infrastructure development.
The IONNA EV charging alliance will see investments to enhance charging infrastructure across the U.S., contributing to new business opportunities in sustainable energy sectors.
This comprehensive investment strategy is expected to create over 14,000 direct full-time jobs by 2028. The broader economic impact could generate more than 100,000 direct and indirect job opportunities across related industries.
The Hyundai Motor Group Metaplant America Grand Opening celebration is scheduled for later this week in Georgia. This event marks the completion of Georgia's largest economic development project just two-and-a-half years after construction began.
Hyundai Motor Group remains committed to fostering economic growth, advancing technology, and providing sustainable solutions within the U.S., supporting over 570,000 jobs nationwide through these efforts.
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