Another $6 billion will be allocated to increase the localization rate of automotive components—including core parts for electric vehicles, such as battery packs—to form an auto cluster following expansion of the group’s production facilities, as well as strengthening logistics to ensure robust supply chains and investing in steel production in the U.S. 

Hyundai Steel, the group’s steel affiliate, will construct an electric arc furnace (EAF) steel mill in Louisiana, capable of producing 2.7 million tons of steel annually. This facility will produce low-carbon steel sheets using the abundant supply of steel scrap in the U.S. 

Finally, Hyundai will invest $6 billion to drive innovation and expand strategic partnerships with U.S. companies in areas including autonomous driving, robotics, artificial intelligence and advanced air mobility. Key initiatives include:

• Collaborating with Boston Dynamics to expand the U.S. ecosystem for robotics components and establish a mass-production system.
• Partnering with NVIDIA to accelerate the development of AI technology for autonomous vehicles.
• Advancing R&D with Supernal, the group’s U.S. aerospace affiliate, to commercialize an electric aircraft by 2028.
• Supplying robotaxis to Waymo as part of its strategic partnership with Hyundai Motor Company, and co-developing autonomous driving services with Aptiv.
• Investing potential startups through venture capital and other funding mechanisms to support U.S. startups specializing in mobility, robotics and AI.
• Investing in energy infrastructure projects. 

Through these investments, Hyundai anticipates it will create 14,000 new direct full-time jobs in the U.S. by 2028. The overall economic impact is expected to generate more than 100,000 direct and indirect jobs across related industries.