Hyundai’s Planned U.S. Investment Growing to $26 Billion

Hyundai Motor Group will invest $26 billion in the U.S. market, the automaker announced, a $5 billion increase from the figure it announced earlier this year. The increased budget will be used to expand the groups presence in the steel and robotics industries, as well as to expand its automotive operations. More from Headlight.News.

Months after announcing it would invest $21 billion to expand its U.S. operations, Hyundai Motor Group has increased the target figure to $26 billion, the company said.

The move will be “reinforcing its long-term commitment to innovation, jobs creation, and sustainable growth across key industries,” Hyundai said in a statement, “significantly expanding the Group’s footprint in the U.S. market.”

The original investment plan was announced in March by Hyundai chairman Euisun Chung during an appearance at the White House alongside Pres. Donald Trump.

More than just autos

Set to cover investments made between 2025 and 2028, it will focus on three key industries:

• Automotive; the group planning to “substantially expand” U.S. production capacity for both the Hyundai and Kia brands’ “ability to meet the evolving needs of American consumers with greater speed and efficiency;”
• Steel; the program includes the new steel mill in Louisiana first announced by Chung during his visit to Washington in March. Much of the mill’s output will supply Hyundai’s growing U.S. automotive manufacturing network;
• Robotics; the Group setting up a “state-of-the-art robotics facility with an annual capacity of 30,000 units.” The “hub” also will serve in the design and testing of new robotic technologies.

Expanded U.S. presence

Hyundai has significantly expanded its U.S. base in recent years, most recently opening the new “Metaplant,” focused on assembling electrified vehicles, in Georgia.

It already operated two other automotive assembly plants: a Hyundai line in Alabama, as well as a Kia facility also located in Georgia. Both those facilities have expanded production capacity since opening in order to meet growing demand. Both Hyundai and Kia – as well as luxury arm Genesis – are on target to set new U.S. sales records in 2025.

The Group has also made some acquisitions, including Boston Dynamics, considered a pioneer in life-like robotics, and Motional, a company focused on autonomous driving.

More Hyundai News

• Hyundai Announces $21 Billion U.S. Investment Program
• Hyundai Announces Broad Tie-Up With General Motors
• Munoz Named New Hyundai CEO

U.S. job growth

Hyundai forecasts the expanded investment program will create another 25,000 jobs in the U.S. over the next four years.

“Hyundai Motor Group is deepening its partnership with the United States, reinforcing our shared vision for American industrial leadership,” Euisun Chung said while announcing the first investment plan in March. “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.”

Prior to the new program, Hyundai said it had already invested $20.5 billion in the U.S.