Hyundai Announces Massive Investment in the US Adding 14,000 New Jobs Before 2028

• The first investment is on that steel mill in Louisiana.

• Production capacity in the US will increase.

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Since its return at the White House, U.S. President Donald Trump is on a mission, announcing a series of new policies with repercussions outside the U.S. territory.

The trade war currently raging between the United States and Canada is not an ideal scenario for automakers, who must juggle these tariffs imposed when goods cross the border.

These tariffs, which complicate the lives of millions of people on both sides of the border, are nevertheless influencing the governing bodies of these automotive giants. At a White House event with the American president, Hyundai announced that it would be investing no less than $5.8 billion in the United States.

The massive injection will be used to build a steel mill in Louisiana, which will produce over 2.7 million tonnes of steel a year. “And that’s just the beginning,” Trump added, promising even greater expansion in the future.

In the longer term, Hyundai plans to increase its investment south of the Canadian border to around 21 billion by 2028. Hyundai’s offensive would create 14,000 new jobs and increase the brand’s production capacity. The Korean automaker’s goal is to assemble more than 1.2 million vehicles annually in the United States. To achieve this goal, Hyundai intends to devote nine of the 21 billion dollars to increasing production. The remaining 12 billion will be allocated to various initiatives, including the steel plant in Louisiana.

Hyundai President Euisun Chung emphasized that this investment would strengthen the steel supply chain in the United States, adding that his group would also purchase $3 billion worth of U.S. liquefied natural gas. “This commitment deepens our partnership with the United States and consolidates our shared vision of American industrial leadership,” he said.

Hyundai’s announcement comes at a time when the company is inaugurating a new electric vehicle plant near the port of Savannah, Georgia, revealed back in 2022. Faced with slowing demand for electric vehicles, Hyundai has already begun adapting its plant to produce hybrid models. In addition, Hyundai, in partnership with SK On Co. and LG Energy Solution Ltd, is investing heavily in two joint ventures specializing in battery production to support the ramp-up of its American industrial capacity.

It now remains to be seen whether this bold gamble on Hyundai’s part will pay dividends in the longer term, as the uncertainty surrounding the White House and its new protectionist policies remains very real.