"Hyundai Motor Group is deepening its partnership with the United States, reinforcing our shared vision for American industrial leadership. The Group's investment and efforts will further expand our operations in the U.S. and grow our American workforce. Thank you to our American partners, employees, and communities. We're proud to stand with you, and proud to build the future together."

Expanding automotive production capacity

To reinforce its production capabilities, the Group will invest a total of USD 9 billion to establish an annual production capacity in the U.S. of 1.2 million vehicles across its automotive brands, Hyundai Motor, Kia, and Genesis.

In addition, the Group plans to invest in improving its production facilities, including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia, to further enhance its customer-centric approach in delivering high-quality automobiles.

Enhancing parts localization and logistics to strengthen supply chain

A total of USD 6 billion will be allocated to increase the localization rate of automotive components – including core parts for electric vehicles (EVs), such as battery packs – to form an auto cluster following expansion of the Group's production facilities, as well as strengthening Group logistics to ensure robust supply chains and investing in steel production in the U.S.

Hyundai Steel, the Group's steel affiliate, will construct an Electric Arc Furnace (EAF) steel mill in the state of Louisiana, capable of producing 2.7 million tons of steel annually. This facility will produce low-carbon steel sheets using the abundant supply of steel scrap in the U.S. with the aim of enhancing the Group's agility and flexibility in response to external uncertainties.

Strengthening collaboration in future industries and investing in energy infrastructure

The Group will invest USD 6 billion to drive innovation and expand strategic partnerships with U.S. companies in areas including autonomous driving, robotics, artificial intelligence (AI), and advanced air mobility (AAM).

Key initiatives include:

• Collaborating with Boston Dynamics to expand the U.S. ecosystem for robotics components and establish a mass-production system
• Partnering with NVIDIA to accelerate the development of AI solutions for future mobility, including autonomous driving and robotics
• Advancing R&D with Supernal, the Group's US affiliate for AAM business, to commercialize an eVTOL vehicle by 2028
• Supplying robotaxis to Waymo as part of its strategic partnership with Hyundai Motor Company, and co-developing autonomous driving services with Aptiv
• Investing potential startups through venture capital and other funding mechanisms to support U.S. startups specializing in mobility, robotics, and AI

As part of its USD 6 billion commitment, the Group will also invest in energy infrastructure projects to secure new business opportunities and contribute to the development of sustainable energy generation, including:

• Strategic cooperation between Hyundai Engineering & Construction Holtec International on Small Modular Reactor (SMR) technology
• Establishing infrastructure to bolster use of renewable energy
• Investing in IONNA EV charging alliance to expand infrastructure

Through these investments, the Group anticipates it will create 14,000 new direct full-time jobs in the U.S. by 2028. The overall economic impact is expected to generate more than 100,000 direct and indirect job opportunities across related industries.

The Group plans to hold its Hyundai Motor Group Metaplant America Grand Opening celebration in Georgia, U.S., later this week, marking the completion of the largest economic development project in Georgia's history, just two and a half years after breaking ground.

HMGMA exemplifies HMG's dedication to driving economic growth, furthering technological advancements, and delivering sustainable solutions to the U.S. market, creating or supporting over 570,000 jobs nationwide.

Hyundai Motor Group Commits to U.S. Growth with USD 21 Billion Investment

SOURCE Hyundai Motor Group

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