Hyundai Announces $20 Billion U.S. Investment, Including Louisiana Steel Plant

The investment, unveiled at the White House, includes a $5 billion steel facility to support EV production and a new automotive plant in Georgia.

Hyundai's $20 billion U.S. investment aims to localize production and mitigate the impact of new tariffs set to take effect on April 2.
The $5 billion steel plant in Louisiana will create 1,500 jobs and supply next-generation steel for Hyundai's electric vehicle manufacturing.
A third automotive plant will be built in Georgia, expanding Hyundai's existing U.S. manufacturing footprint in Alabama and Georgia.
The investment aligns with Hyundai's goal of producing over 2 million electric vehicles annually by 2030.
The announcement highlights broader trends of foreign companies increasing U.S. manufacturing in response to trade policies under the Trump administration.