Posted on 03/24/2025 10:59:53 AM PDT by SeekAndFind
Hyundai plans to invest $20 billion to bring manufacturing operations to the U.S., a White House official confirmed to FOX Business.
Part of the investment from the South Korean automaker will go toward building a next-generation steel plant. The materials will be used in two of its U.S. plants and will employ 1,500 people. The rest of the money will be earmarked to expand manufacturing in the U.S.
The automaker is the latest among a growing number of companies announcing plans to increase investment in the U.S. under the Trump administration, which has been using tariffs to encourage companies to bring manufacturing back to American soil and reduce reliance on foreign goods.
Underscoring the administration's mission, Vice President JD Vance posted on X earlier this month that companies will be rewarded for investing in and creating jobs in America.
"We'll lower regulations and reduce taxes. But if you build outside of the United States, you're on your own," he wrote.
The news from Hyundai comes just a few weeks after GE Aerospace announced a nearly $1 billion investment to help "strengthen manufacturing and increase the use of innovative new parts and materials needed for the future of flight." GE said the funds, nearly double last year's commitment, will help increase the safety, quality and delivery of engines, benefiting more than two dozen communities across 16 states. GE said it will also hire around 5,000 U.S. manufacturing and engineering workers.
Eli Lilly announced in February that it was investing an additional $27 billion to boost domestic drug production, bringing the company's total U.S. manufacturing investment to more than $50 billion since 2020.
Apple also announced that it is committing $500 billion over the next five years, which will involve building an advanced AI server manufacturing factory near Houston,
(Excerpt) Read more at msn.com ...
The tech giant also plans to establish an Apple Manufacturing Academy in Detroit, as well as hire 20,000 new employees with focuses on research and development, silicon engineering, artificial intelligence and machine learning.
Taiwan Semiconductor Manufacturing Company said it will invest $100 billion in U.S.-based semiconductor chip manufacturing and shipping giant CMA CGM will invest $20 billion in U.S. shipping and logistics.
Softbank, DAMAC, Meta and others have also committed to investing in the U.S. under Trump. Even Nissan CEO Makoto Uchida suggested Trump’s tariffs could force the car manufacturer to shift its production outside of Mexico.
Hyundai ALREADY has manufacturing plants in the United States. Their first and primary facility is located in Montgomery, Alabama, known as Hyundai Motor Manufacturing Alabama (HMMA). This advanced plant produces vehicles like the Hyundai Elantra, Santa Fe, Tucson, and Santa Cruz, as well as Genesis models.
Hyundai also has a facility in Georgia, which focuses on electric vehicle production.
“Shame how over the last 20-30 years Free Traitors™ have turned the USA into developing nation begging for domestic steel plants.”
Our side was proven right on that, unfortunately for the country.
It is pathetic. It shows weakness. The Dragon knows this.
People don’t realize how many car manufacturers are in Alabama...lol
And if the “progressives” ever get back in power, these companies will join the Keystone Pipeline project on the democrats ash heap of history.
ICE RAID AT GEORGIA HYUNDAI BATTERY PLANT A COUPLE OF WEEKS AGO===
100 “VENEZ” ‘workers’ hauled out——=80% of total workforce there.
but, but, but abc/cbs/nbc/cnn/msnbc/wapo/latimes all PROMISED us that President Trump’s tariffs would crash the economy ...
btw, given the hundreds of billions of capital investment flooding into the U.S., i predict that Canada and Western Europe will soon be forced to cave on reciprocal tariffs ...
I presume the venture was a financial disaster, because just four years later they sold it to a joint venture of ArcelorMittal (British) and Nippon Steel (Japanese) for just $1.5 billion.
Mercedes, Hyundai, Kia (next door in West Point, GA). Isn’t Honda/Toyota somewhere near Huntsville?
What used to be woodland in Auburn and Opelika are now suppliers’ factories.
I know someone who works at the Hyundai plant.
When Trump said he was going to create jobs - he meant it. OK, we’re gonna have jobs up the wazoo...
Now Trump needs states to provide capable intelligent workers
Learning the right pronouns when the young person can’t do math, write a letter, or show up on time - or show up at all can be a problem. Guidelines to the states might be nice.
There is a Honda in Lincoln. Had to look up Huntsville. It had Mazda/Toyota.
That’s right it’s Mazda, not Honda.
Why? Didn’t think we knew how to do stuff like smelt steel anymore
Biden and the democrats were poison to America. Now that Trump is in office, business around the world see the value in America.
That sounds great. I favor the Nippon acquisition of US Steel for the same reason: Nippon has the financial resources for massive reinvestment in US Steel facilities, much more so than the Cliffs/Nucor consortium.
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