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Hyundai Motor Group has announced plans to increase its U.S. investment to $26 billion, up from the earlier commitment of $21 billion, in a major push to strengthen its automotive and steel supply chains.
The investment will cover automobile manufacturing, robotics, and steel infrastructure, with the aim of boosting local production and creating a more resilient supply network.
As part of the plan, Hyundai will set up its first U.S. steel plant in Louisiana, an electric arc furnace facility with an annual capacity of 2.7 million tonnes, expected to be operational by 2029. The plant will support Hyundai’s car-making operations and reduce reliance on imported steel.
Additionally, Hyundai is developing a robotics hub in the U.S., which will produce nearly 30,000 units annually, strengthening its foothold in advanced manufacturing technologies. The company has also signed an MoU with Posco Holdings, which is expected to collaborate on the steel project through equity participation and steel offtake agreements.
The move underlines Hyundai’s strategy to expand its U.S. presence, align with local supply-chain policies, and ensure greater competitiveness in the global auto and steel sectors.
Also Read : India Steel Works Rises 240% In Stock Performance Despite Losses. India’s Green Steel Demand to Reach 4.49 Million Tonnes by FY2030: EY Report
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