Hyundai Invests in US Growth and Innovation
Hyundai Motor Group continues to drive innovation and reinforce its commitment to delivering high-quality automobiles. The Group aims to strengthen its supply chain and accelerate technological advancements within the US market by enhancing local parts production, investing in logistics, and fostering collaborations in future industries.
Boosting localisation and logistics to fortify the supply chain
A significant US$6bn investment has been earmarked to increase the localisation rate of automotive components, particularly for EVs. The initiative includes producing essential EV components such as battery packs and facilitating the formation of an automotive cluster that complements HMG’s expanding production capabilities.
In addition, Hyundai Steel, the Group’s steel affiliate, is set to construct an Electric Arc Furnace (EAF) steel mill in Louisiana. The facility, capable of producing 2.7 million tons of steel annually, will utilise the ample steel scrap available in the US to manufacture low-carbon steel sheets. The move is expected to bolster the Group’s resilience against external economic fluctuations while reinforcing its commitment to sustainability.
Strengthening strategic partnerships in future technologies
Hyundai Motor Group is investing another US$6bn to forge stronger collaborations with US companies across key future industries, including autonomous driving, robotics, artificial intelligence (AI) and advanced air mobility (AAM).
- Robotics expansion: In collaboration with Boston Dynamics, HMG aims to develop a robust robotics ecosystem and establish a mass-production system in the US.
- AI-powered mobility: A partnership with NVIDIA will accelerate AI advancements for future mobility solutions, spanning autonomous driving and robotics.
- Advanced air mobility (AAM): HMG’s US affiliate, Supernal, is intensifying its research and development efforts to commercialise an electric vertical take-off and landing (eVTOL) vehicle by 2028.
- Autonomous driving integration: As part of its collaboration with Waymo, HMG will supply robotaxis while working alongside Aptiv to co-develop autonomous driving services.
- Start-up investment: Hyundai Motor Group will invest in emerging mobility, robotics, and AI start-ups, leveraging venture capital and other funding mechanisms.
Advancing energy infrastructure
In addition to technological innovations, Hyundai Motor Group is actively investing in energy infrastructure to unlock new business opportunities and contribute to the development of sustainable energy generation.
The Group’s energy investments focus on:
- Small modular reactor (SMR) technology: Partnering with Hyundai Engineering & Construction and Holtec International to advance next-generation nuclear power solutions.
- Renewable energy infrastructure: Establishing facilities that promote the greater use of renewable energy sources.
- EV Charging network expansion: Strengthening investment in the IONNA EV charging alliance to enhance nationwide EV infrastructure.
Economic growth and job creation
The investments aim to create 14,000 new direct full-time jobs in the US by 2028, with the broader economic impact generating over 100,000 direct and indirect employment opportunities across related industries.
To commemorate its progress, Hyundai Motor Group will host the Hyundai Motor Group Metaplant America (HMGMA) Grand Opening in Georgia, marking the successful completion of the state’s largest economic development project. The milestone, achieved just two and a half years after breaking ground, demonstrates the Group’s commitment to advancing the US economy, fostering technological innovation, providing sustainable mobility solutions and creating as well as supporting 570,000 jobs in the US.
With these transformative investments, Hyundai Motor Group reinforces its position as a leading force in the automotive industry, ensuring long-term growth and technological excellence in the US market.
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