Hyundai Motor Group said it will expand its commitment to the United States, lifting planned investment to about $26 billion. A major element of the program is the construction of an advanced robotics manufacturing facility capable of producing roughly 30,000 units a year, according to statements released late Monday in Seoul. The South Korean company has been increasing spending across electric vehicles, battery supply chains and automation as it seeks to deepen its presence in the world’s second-largest car market. Separately, HD Hyundai, a sister company focused on heavy industry, joined with Cerberus Capital Management to form Cerberus Maritime, an investment platform aimed at rebuilding the U.S. shipbuilding base. The partners said the initiative aligns with President Donald Trump’s April executive order on restoring American maritime dominance and could draw additional financing from Korea Development Bank. The twin announcements underscore Korea’s broader push to expand industrial footprints in the United States amid heightened competition with Chinese manufacturers.
Hyundai Motor Group will establish a state-of-the-art robotics facility in the U.S. with an annual production capacity of 30,000 units.
Hyundai Motor Group increases US investment to $26 billion https://t.co/7IS62NGkoG
SOUTH KOREA’S HYUNDAI MOTOR GROUP TO BUILD ADVANCED U.S. ROBOTICS FACILITY WITH 30,000-UNIT ANNUAL CAPACITY.