Hyundai Steel and Hyundai Motor to Invest $5.8B in U.S. Plant Boosting EV Supply Chain

Hyundai Steel (KS:004020), in partnership with Hyundai Motor Group (OTC:HYMTF), announced a $5.8 billion investment to construct a state-of-the-art manufacturing plant in Louisiana. The facility will have an annual production capacity of 2.7 million tonnes and is part of Hyundai Motor's broader $21 billion commitment to expand its U.S. presence.

The investment, unveiled during Hyundai Motor’s announcement at the White House alongside former President Donald Trump, highlights the group’s strategy to strengthen its North American supply chain. The new plant is expected to play a crucial role in supporting Hyundai’s electric vehicle (EV) and mobility ambitions in the region.

The announcement triggered a surge in investor confidence. On Tuesday, Hyundai Motor shares jumped 7.5%, reaching their highest level since October 2024. Kia Corp, an affiliate of Hyundai, also saw a 4.3% rise, while Hyundai Steel gained 5.4%.

This large-scale investment aligns with the U.S. push to boost domestic manufacturing and EV production. It also reflects Hyundai’s aggressive move to secure its supply chain amid global shifts in the automotive industry.

By expanding production capabilities in the U.S., Hyundai is positioning itself as a major player in the EV revolution. The Louisiana plant will likely generate significant local employment and contribute to regional economic development, further deepening the automaker’s footprint in the American market.

The collaboration between Hyundai Motor and Hyundai Steel underlines their shared vision to lead in innovation, sustainability, and future mobility, while strategically aligning with U.S. industrial and climate goals.