Hyundai Plans to Invest in U.S.

2025-03-25 05:49:30

(MENAFN) Hyundai, the leading South Korean car manufacturer, plans to make a significant investment of USD21 billion in the United States, according to Leader Donald Trump, who made the announcement on Monday.

During a press briefing at the White House, Trump revealed that Hyundai would allocate USD5.8 billion specifically to the US manufacturing sector.

The company is set to build a new factory in Louisiana, which will be capable of producing over 2.7 million metric tons of steel annually. This new facility will also create more than 1,400 jobs, Trump added.

The leader highlighted that this factory will be Hyundai's first steel plant in the United States.

He further emphasized that the Louisiana steel plant is just a part of the company's broader investment plan, stating: "The new steel plant in Louisiana is part of an even larger USD21 billion investment they will be making in the US over the next couple of years."

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