Hyundai Motor Group Announces $20 Billion U.S. Onshoring Investment Including Louisiana Steel Plant

Hyundai Motor Group, led by Chairman Euisun Chung, is set to announce a $20 billion U.S. onshoring investment, which includes a $5 billion steel plant in Louisiana that will employ 1,500 workers and supply next-generation steel for Hyundai’s two U.S. auto plants. The announcement, expected at the White House on Monday with President Donald Trump and Louisiana Gov. Jeff Landry, comes as global companies aim to avoid tariffs ahead of Trump’s April 2 deadline. Hyundai Motor CEO José Muñoz emphasized that increasing localization is key to navigating trade challenges. The South Korean conglomerate, a top electric vehicle seller in the U.S., plans to open a third plant in Georgia.

AMOUNT: $20,000,000,000

HQ: #Seoul #SouthKorea

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