Huge Investment from Hyundai to the USA
South Korean automaker Hyundai Motor Company announced that they will invest more than 10 billion dollars in the USA by 2025 in order to strengthen cooperation with US companies in the high-tech sector.
Hyundai Chief Executive Officer Eusiun Chung announced a new $5 billion investment plan after meeting with United States President Joe Biden in the capital, Seoul.
Expressing that they will open a new electric vehicle production facility of approximately 5.5 billion dollars in the state of Georgia in the past, Hyundai Motor Company‘s new investments in the USA by 2025 are expected to exceed 10 billion dollars.
It is stated that the investments to be made with these decisions will be in the fields such as robotics, urban air mobility, autonomous driving and artificial intelligence, as well as electric vehicle production.
It has been noted that the Hyundai factory to be opened in Georgia will employ approximately 8,100 people and the facility will produce 300,000 electric vehicles annually.
President Joe Biden Supports the Investment Decisions
Joe Biden, during his visit in Seoul, stated that they support Hyundai and Samsung’s new investments in the USA. “Electric vehicles are good for our climate goals, but they are also good for business (industry),” Chairman Biden said after meeting with Chung on Hyundai’s electric vehicle project.