Hyundai Set to Disburse $20 Billion in American Investment
Brace yourselves, folks! It's time for some American manufacturing madness, as Hyundai is about to unveil a whopping $20 billion investment in the US. Yep, that's $20,000,000,000! ant's gonna roll in starting Monday. And guess what, the announcement will be made at the White House, right in the heart of D.C., by none other than Hyundai Chairman Euisun Chung, Louisiana Governor Jeff Landry, and our First-in-Command, President Donald Trump.
Now, you might wonder why Hyundai's dropping such a bomb. Well, the investment is a response to the 25% tariffs Trump has enacted on steel and aluminum imports, as well as the looming levies on cars from Asia and Europe. The aim here is fairly straightforward - build more cars in America! However, let's not get carried away; it's not that easy.
Take Stellantis, for example, the company responsible for those cool Jeep, Ram, Dodge, and Chrysler vehicles, which agreed to reopen a shuttered plant in Illinois as part of a deal to end a 2023 strike by the United Auto Workers. But here's the kicker, that plant won't reopen until 2027! Yup, you read that right. So, Hyundai's move might not be a one-off.
But hey, don't lose hope! This investment comes ahead of April 2, when, you guessed it, even more sweeping tariffs might be enacted, targeting countries with a large trade surplus like South Korea. So, amongst all these announcements, Apple's $500 billion investment, TSMC's, and SoftBank's, Hyundai's might just be the gamechanger we've been waiting for.
And remember, these announcements are not new. New presidents, like Trump, often hold joint announcements with companies about massive US investments to promote American manufacturing. But, their track record for success is a mixed bag. So, let's cross our fingers and hope this time, it'll be different.
CNBC first reported the announcement, and while Hyundai didn't immediately respond to CNN's request for comment, we can't wait to see what happens next!
[1] Johnson & Johnson's $55 Billion Investment: [Link] [2] Eli Lilly's Investment: [Link] [3] Apple's $500 Billion Investment: [Link] [4] TSMC's Investment: [Link]
- Hyundai's upcoming $20 billion investment in the US, set to kick off with a steel plant in Louisiana, is a business response to the 25% tariffs on steel and aluminum imports and possible car tariffs.
- This investment by Hyundai, announced at the White House, aligns with a trend of new presidents promoting American manufacturing through joint announcements with companies about significant US investments.
- Despite a mixed track record of such investments, Hyundai's move could potentially be the gamechanger amidst other major investments, such as Apple's $500 billion commitment, TSMC's, and SoftBank's.
