Hyundai may announce $20B US investment today - Breaking The News
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Hyundai may announce $20B US investment today

EPA-EFE/STEPHANIE LECOCQ

Hyundai Motor Group is expected to announce a $20 billion investment in the United States at the White House along with US President Donald Trump later in the day, CNBC's correspondent Seema Mody revealed on Monday on her X account, citing a source familiar with the plans.

According to the report, the South Korean automaker will invest $5 billion of the total $20 billion in a production facility to manufacture high-quality steel for vehicles produced in the United States.

Hyundai's ramp-up of investments in the US comes as it seeks to avoid the effects of the upcoming trade war, as Trump announced that 25% tariffs on all cars produced outside the US will go into effect on April 2.

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