Hyundai just announced it’s increasing investment in US manufacturing to a whopping $26 billion in a strategic push. This comes after back in March the Korean automaker said it would drop $21 billion on US manufacturing, so it’s sinking an extra $5 billion into it.
Rivian’s CEO is made you’re buying gas cars.
Of course, this move was made in direct reaction to President Trump’s tariffs. After all, Hyundai sells a lot of cars in this country and it desperately wants to maintain profitability while increasing market share.
The large investment will be made over the space of the next four years, with the goal of expanding its automotive, robotics, and steel manufacturing footprint here significantly.
One of the projects already announced involves the construction of a new steel mill in Louisiana. Considering there have been high tariffs on imported steel, this is likely music to Trump’s ears.
Hyundai also plans to open a cutting-edge robotics facility that would churn out up to 30,000 units a year. In other words, if you’ve never seen a Hyundai robot before, you probably will sooner than later.
Finally, Hyundai, Genesis, and Kia will be ramping up car production in this country. Exactly how that will be done and what kind of capacity increase we can expect to see wasn’t announced. But it could mean you’ll also see even more vehicles from those three brands on the road soon.
What Hyundai has said is he investment it’s making should create an estimated 25,000 new direct jobs in the next four years. Who knows how many indirect jobs will also be created by this activity, which will amount to a huge economic impact in the US.
In other words, even if you don’t like Hyundai, this is something worthy of celebrating.
Image via Hyundai
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