Hyundai Motor Company CEO is about US investment in US investment in the amount of $ 21 billion
Hyundai Motor Company Jose Munoz’s chairman and executive is responded to the expected tariff auto industry on “Claim’s countdown”.
Executive Director Hyundai Motor Company Jose Munoz appeared on Wednesday “Counting the climate“Where he spoke about the newly opened Mass Investment Hyundai Motor Group in the US
His appearance in the show came the same day when the car manufacturer marked the official opening ceremony for his Hyundai Motor Group Metaplatant American (HMGMA) near Savannah in Georgia State and just a few days after Hyundai revealed that over the next few years he will invest $ 21 million to strengthen production in the US
“We are opening the so -called HMGMA MetaPlatant America, which consists of $ 12.6 billion. It is one 300,000 -time installation plant, which I announced will reach as many as 500,000 and two batteries plants today,” said Liz Claman’s host. “And as you pointed out, just before the start of the interview, our executive chairman, Mr. Chung, announced before the President of the United States, President Trump, to plan $ 21 billion between now and 2028. In numerous mega projects, including the new Louisiani electric port factory.”
The Hyundai Logotype was shown at the International Motor Show in New York, March 28, 2018 at the Jacob K. Javits Congress Center in New York (Drew Angerer / Getty Images / Getty Images)
The new $ 21 million investment that Hyundai presented on Monday will include $ 9 billion to bring its annual production capacity at $ 1.2 million, $ 6 billion to “improve the localization of parts and logistics” and $ 6 billion for more “collaboration in future industries”, such as autonomous ride and robotics.
Hyundai invest $ 20b USD in US production
Munoz’s appearance on “Claim’s countdown” has also come before President Donald Trump He said later on Wednesday that he would put a new tariff on imported vehicles.
Hyundai Motor Company Executive Director told Claman that the company “made a big decision to invest in America” during the previous Trump administration.
Hyundai First Montay and Manufacturing Plant in the United States is located directly beyond Montgomery, Alabama (Carol M. Highsmith/Buyenlage/Getty Images/Getty Images)
“America is for us the biggest market, and then we decided to make the biggest investment in the world with these $ 12.6 billion,” he said. “There is nothing better to deal with potential tariffs than the localization of our production in America, making jobs.”
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“Many do not know that we are a really big corporation that not only produces cars, but steel and many other things,” Munoz continued. “And with all these new investments we announced on Monday, we bring a total of about 670,000 jobs, directly and indirectly. This is massive.”
He said vehicles This Hyundai will produce in his Savannah factory, Georgia, “he will probably have to pay any tariffs.”
President Trump announces new car tariffs
The car manufacturer is the latest among the growing number of companies that announce plans for increasing investment in the US under Trump’s administration, which uses tariffs to encourage companies to return production to US soil and reduce reliance on foreign goods.
Washington, DC – January 21: US President Donald Trump asks a report from a journalist during a press conference in Roosevelt’s White House room on January 21, 2025 in Washington, DC. Trump announced an investment in artificial intelligence (Andrew Hardik / Getty Images / Getty Images)
Trump has spent a series of tariffs since he took his duty, including 20% of the goods imposed in the US from China. Mexico and Canada were also affected by tariffs, but Trump later introduced exemptions for the two countries on the goods under the United States-Moxiko-Kanada agreement to April.
Imports of steel and aluminum are also subject to new tariffs.
Daniella Genovese contributed to this report.
