Hyundai Steel says it will make steel in the US – unveils US factory plan.
The Hyundai Motor Group has announced a significant investment of USD 21 billion in the United States from 2025 to 2028. This commitment reflects the Group’s strategic focus on expanding its manufacturing capabilities, advancing future technologies, and enhancing energy infrastructure in America. This latest US investment builds on the Group’s existing allocation of approximately USD 20.5 billion since entering the US market in 1986.
“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 US 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.
Hyundai Steel
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 US with the aim of enhancing the Group’s agility and flexibility in response to external uncertainties.
The move is seen as an effort by Hyundai to shield itself from US tariffs on steel and cars, but it is not clear whether this will help secure exemptions for Hyundai and South Korea.
The Group will invest USD 6 billion to drive innovation and expand strategic partnerships with US companies in areas including autonomous driving, robotics, artificial intelligence (AI), and advanced air mobility (AAM).
Through these investments, the Group anticipates it will create 14 000 new direct full-time jobs in the US by 2028. The overall economic impact is expected to generate more than 100 000 direct and indirect job opportunities across related industries.
