Hyundai has been making huge investments in the U.S. recently, including an electric vehicle and battery plant in Georgia.
SEATTLE (Scrap Monster): Hyundai, a well-known South Korean automaker, announced a multimillion-dollar investment in the United States, which includes building a new steel facility in Louisiana. It is anticipated that the $5.8 billion steel factory will generate about 1,300 jobs in the United States. It will produce metal alloys for the company's Georgia and Alabama vehicle factories.
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Hyundai executive chairman Euisun Chung told reporters during a joint news conference with U.S. President Donald Trump and other officials at the White House that the establishment of the new steel mill will guarantee a more secure and independent automotive supply chain in the United States. The project will be the company's first steel mill in the United States and will be situated in Donaldsonville. According to Chung, the facility's construction is anticipated to start in Q3 2026.
According to Trump, Hyundai will not be subject to any tariffs since the new steel facility will allow the company to manufacture its steel and automobiles in the United States. Notably, Trump has been threatening to levy tariffs on businesses who do not relocate their manufacturing operations to the United States.
Recently, Hyundai has made significant investments in the United States, including a battery and electric vehicle manufacturing in Georgia. To support its U.S. activities, it hopes to buy an LNG plant as part of its expansion plans.
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