Eui Sun Chung, Chairman of Hyundai Motor Group, announced a $21 billion investment plan for the United States, calling it the company’s largest investment since entering the U.S. market.
During the announcement at the White House in Washington, D.C., Chung stated, “Hyundai Motors entered the U.S. in 1986. Since then, we have invested over 20 billion dollars and now support more than 570,000 American jobs across all 50 nation states.”
He emphasized that a major part of this investment would be a $6 billion allocation to strengthen the domestic supply chain, including sectors like steel, parts, and finished vehicles.
Chung expressed high expectations for Hyundai Steel’s multi-billion dollar investment in a new Louisiana facility, set to create 1,300 jobs and form the foundation for a stronger, more self-reliant automotive supply chain in the U.S.
He also proudly announced the opening of a new $8 billion automotive plant (HMGeneral MotorsA) in Georgia this week, which is expected to increase the company’s annual U.S. vehicle production to over 1 million units.
Chung noted that the completion of this innovative project (HMGeneral MotorsA) is especially significant as it coincides with the start of President Trump’s second term. He further mentioned that Hyundai Motor Group plans to purchase $3 billion worth of U.S. liquefied natural gas to support the U.S. energy industry and strengthen energy security.
In conclusion, he stated that these initiatives would accelerate supply chain localization in the U.S., expand their operations, and increase their American workforce. He expressed pride in Hyundai Motor Group becoming an even stronger partner in the future of American industry, working alongside leadership.