Hyundai Announces $20B US Investment, Boosts EV Production
South Korean auto giant Hyundai is set to unveil a massive $20 billion US onshoring push, including a $5 billion steel plant in Louisiana. The company expects to hire about 1,500 workers at this advanced facility, which will produce specialized steel for Hyundai’s EV operations. The project was scheduled to be announced at the White House by President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry, highlighting the state’s evolving role in American manufacturing.
Hyundai already runs two major auto plants in Alabama and Georgia, churning out both gasoline and electric vehicles. The company’s next move includes opening another plant in Georgia, underscoring its ambition to corner the EV market. Company leaders say these expansions will not only help dodge costly tariffs but also allow Hyundai to respond quickly to local demand—especially as global uncertainty around trade intensifies.
The race to shore up US-based production has accelerated, with major foreign firms eager to avoid trade conflicts and hefty duties. Hyundai has become one of the biggest EV sellers in North America, closely tailing Tesla while chasing a chunk of the lucrative zero-emissions market. By ramping up domestic steel production and auto manufacturing, Hyundai is betting on closer ties to the American economy, stronger brand loyalty, and a leg up in the fierce global competition for tomorrow’s drivers.
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