By SEMA News Editors
Hyundai Motor Group, the South Korean automaker, has committed to investing $21 billion in the United States from 2025 to 2028.
The investment aims to expand Hyundai Motor Group's manufacturing capabilities, advance future technologies and enhance energy infrastructure in the United States, the company said.
According to a statement announcing the commitment, $9 billion will be put toward establishing an annual production capacity in the United States of 1.2 million vehicles across its automotive brands, Hyundai Motor, Kia and Genesis.
The company is also planning to improve its current production facilities, Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia. $6 billion will also be allocated to increase localization of parts and components and strengthening the group's supply chain. Other investments will be put toward expanded strategic partnerships, energy infrastructure projects and more.
Hyundai anticipates that the investment will create 14,000 new full-time jobs by 2028.
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