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Hyundai Announces $21bn US Expansion Ahead of New Trump Tariffs. Hyundai has announced a $21 billion investment plan in the US, ahead of expected new tariffs from President Trump. The plan includes a $5.8 billion steel plant in Louisiana, expected to produce 2.7 million metric tons of steel annually. The new facility will support Hyundai’s manufacturing operations in Alabama and Georgia, creating over 1,400 jobs. Hyundai will invest $9 billion to increase US vehicle production to 1.2 million units a year by 2028. An additional $6 billion will go toward US partnerships in autonomous driving, robotics, and AI technologies. Hyundai will also buy $3 billion worth of liquefied natural gas from the US. On Wednesday, Hyundai will open a new $7.59 billion car and battery plant in Georgia. With its existing facilities in Alabama and Georgia, Hyundai’s total US production capacity will reach one million vehicles annually. The announcement comes ahead of potential tariffs on South Korea and other trading partners, set for 2 April.
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