Hyundai Motor Group announced plans for a $21 billion investment in the U.S. through 2028. The company expects the spending to create 14,000 direct jobs.
Hyundai’s investment allocates $9 billion to increase annual production capacity, $6 billion to local automotive parts sourcing, and $6 billion to collaborations with U.S. companies in robotics, artificial intelligence, advanced air mobility, and autonomous driving.
Increasing Vehicle Production
The automaker expects to achieve an annual production capacity of 1.2 million vehicles in the U.S. across its Genesis, Kia, and Hyundai brands. The company also plans to fund improvements to multiple facilities, including Kia Autoland Georgia and Hyundai Motor Manufacturing Alabama.
Localizing Auto Parts
Hyundai said it intends to expand parts localization, including electric vehicle battery packs, to improve its supply chain.
Additionally, the investment will support the company’s Hyundai Steel affiliate, which plans to build an Electric Arc Furnace mill in Louisiana that uses scraps to make low-carbon steel sheets. The site hopes to reach an annual capacity of 2.7 million tons.
Advancing Robotics and AI
Company initiatives supported by the investment include partnering with Boston Dynamics to enhance the robotics components ecosystem and collaborating with NVIDIA to further artificial intelligence solutions for next-generation mobility, including autonomous driving.
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