[SUMMIT] Hyundai Motor Group levels up US investment after summit

Hyundai Motor Group will ramp up its U.S. investments by $5 billion to $26 billion for the next four years in a drive to build a stronger mobility value chain that covers steelmaking, automobiles and robots, the carmaker said following the Korea-U.S. Business Roundtable in Washington, Monday (local time). The Korean company aims to navigate mounting policy challenges in the U.S. by increasing their investment in the three strategic areas. The latest announcement came shortly after President Lee Jae Myung held his first summit with U.S. President Donald Trump. Hyundai Motor Group expressed hopes of widening business opportunities in the U.S. by bolstering its competitiveness in future mobility. Under the large-scale investment drive, Hyundai Motor Group will build a steel mill in the U.S. state of Louisiana. The facility will be capable of producing 2.7 million tons of steel each year. Quality low-carbon steel products from the mill will be supplied to key industries in the U.S., according to the company. “Once we finish construction of the facility, Hyundai Motor Group will be able toWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times