WASHINGTON — Hyundai Motor Group announced that it will invest $21 billion in its US operations, including $6 billion for a new steel plant in Louisiana.
Hyundai Chairman Euisun Chung joined President Donald Trump at the White House for Monday’s announcement. Trump said the steel built in Louisiana will be sent to Hyundai and KIA auto plants in Georgia and Alabama.
“Hyundai will be producing steel in America and making its cars in America and as a result they’ll not have to pay any tariffs,” Trump said, referring to his administration’s tariffs for aluminum and steel imports.
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Hyundai will hold a grand opening ceremony on Wednesday for its new plant in Bryan County just outside of Savannah.
Officials broke ground on the plant in late Oct. 2022 and opened it two years later in Oct. 2024. The plant is one of the largest economic development projects in Georgia history.
Hyundai said the plant will produce up to 300,000 electric vehicles every year and the LG batteries that power them. Right now, more than a 1,000 workers have been hired, but there are plans to employ to 8,500 workers.
The Associated Press and CNN contributed to this report.
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