Hyundai's Big Bet on America: Jobs, Steel, and Tech

Hyundai is making a huge move in the United States. The South Korean company is planning to invest a massive 21 billion dollars in the US. This is a big deal, and it's not just about building cars. Hyundai is looking to create jobs, boost production, and dive into some cutting-edge technology. First off, let's talk jobs. Hyundai is planning to create 14, 000 full-time jobs by 2028. That's a lot of new opportunities for people in the US. These jobs will be part of Hyundai's plan to boost its US production capacity to 1. 2 million vehicles. It's a smart move, considering the potential tariffs looming over the horizon. Now, let's talk steel. Hyundai is building a new 5. 8 billion dollar steel plant in Louisiana. This plant will produce over 2. 7 million metric tons of steel every year. That's enough steel to supply Hyundai's auto plants in Alabama and Georgia. Plus, it will create over 1, 400 jobs. It's a win-win for the economy and the environment, as steel production in the US reduces the carbon footprint of Hyundai's cars. But Hyundai isn't just about cars and steel. The company is also investing 6 billion dollars to team up with American companies in some pretty cool areas. We're talking autonomous driving, robotics, artificial intelligence, and even advanced air mobility. It's like Hyundai is trying to be a part of the future, and it's happening right here in the US. Hyundai is also opening a new car and battery factory in Georgia. This 7. 59 billion dollar plant will have a production capacity of 300, 000 vehicles when it's fully up and running. It's a big step for Hyundai, and it's happening right now. The company already has a factory in Alabama, and its affiliate Kia has a plant in Georgia. Together, these plants can produce 700, 000 vehicles a year. Now, let's talk about why Hyundai is doing all this. The US president has been talking about imposing tariffs on numerous countries, including South Korea. Tariffs are like taxes on imports, and they can make it more expensive for companies to do business. By investing in the US, Hyundai is trying to protect itself from these potential tariffs. It's a strategic move, and it shows that Hyundai is thinking long-term. Hyundai isn't the only company making big investments in the US. Numerous companies have announced planned investments after the US president's return to the White House. It's like a wave of investment, and Hyundai is riding it. The South Korean carmaker had previously announced plans to invest about 10 billion dollars in the US by 2025. This new investment is a big step up from that.