South Korean automobile conglomerate Hyundai plans to build a $5B steel plant in Louisiana and an automotive plant in Georgia as part of a $20B investment in U.S. onshoring, according to CNBC.
Hyundai Chairman Euisun Chung plans to announce the investment at the White House Monday along with President Donald Trump and Louisiana Gov. Jeff Landry, CNBC reported, citing people familiar with the plans.
The Louisiana plant is expected to manufacture “next-generation” steel to be used in Hyundai’s Georgia and Alabama auto plants for electric vehicle production. Monday’s announcement will also include plans for another plant in Georgia, which would be its third in the U.S...
RSK: Is the plan starting to work? Can people hold on long enough for these auto plants and parts to be constructed?
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- - Volume: 25 - WEEK: 14 Date: 4/2/2025 10:10:15 AM -