Hyundai Motor Group has announced a significant $21 billion investment in its U.S. operations, focusing on localizing auto parts. This includes a $5.8 billion steel plant in Louisiana, expected to create over 1,300 jobs and support electric vehicle production in Georgia and Alabama. CEO José Muñoz emphasized the importance of supply chain localization to mitigate tariff impacts, with plans for further investments in technology partnerships. Overall, the initiative aims to create 14,000 jobs in the U.S. by 2028, reflecting a broader trend of increased manufacturing investment under the Trump administration.

Source: https://www.supplychaindive.com/news/hyundai-investment-us-tariffs-trump-steel-louisiana/743712/