HMG to expand growth in U.S.A with hefty investment

Hyundai Motor Group (HMG) has announced that it will pour in more than $28 billion (USD 21 billion) in investment in the U.S.A from 2025 to 2028, in a bid to expand its manufacturing capabilities, advance future technologies, and enhance energy infrastructure in the country.

To reinforce its production capabilities, HMG will invest a total of $12.05 billion (USD 9 billion) to establish an annual production capacity in the U.S.A of 1,200,000 vehicles across its brands (Hyundai Motor, Kia, and Genesis). In addition, HMG plans to invest in improving its production facilities, including Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia, to further enhance its customer-centric approach in delivering high-quality automobiles.

In addition, $8 billion (USD 6 billion) will go to increasing the localisation rate of automotive components - including core parts for EVs such as battery packs - to form an auto cluster following expansion of HMG's production.

HMG will also invest $8 billion (USD 6 billion) to drive innovation and expand strategic partnerships with American companies in areas such as autonomous driving, robotics, artificial intelligence, and advanced air mobility (AAM).

Through these investments, HMG anticipates that it will create 14,000 new, direct full-time jobs in the U.S.A by 2028, with the overall economic impact expected to generate more than 100,000 direct and indirect job opportunities across related industries.