Hyundai Motor Group, which opened a huge electric vehicle manufacturing plant west of Savannah last March, is upping its investment in the United States.
The Korea-based automaker announced plans on Tuesday to invest $5 billion through 2028, in addition to the $21 billion the company has already committed to U.S. operations, reinforcing its long-term commitment to job creation and growth.
Highlights of the investment include a new steel mill in Louisiana and construction of a state-of-the-art robotics facility with an annual capacity of 30,000 units.
Hyundai also plans to expand its U.S. auto production capacity to meet the growing demands of American consumers with greater speed and efficiency, according to a company news release.
The Metaplant broke ground in the fall of 2022, with an initial investment of $5.5 billion that was later increased to nearly $7.6 billion, adding 400 jobs on top of the 8,100 originally planned. It remains the most significant economic development project in Georgia's history.