Hyundai Motor Co. said Sunday that it will invest an additional $5 billion in the United States by 2025 to strengthen cooperation with American companies in advanced technology.
The group said the investments, announced during President Joe Biden’s visit to Seoul, are for robotics, urban air mobility, autonomous driving and artificial intelligence. Hyundai Motor Group, which includes Hyundai Motor and Kia, announced plans Friday to invest $5.5 billion in Georgia to build electric vehicle and battery facilities.
Hyundai’s new battery and electric vehicle manufacturing facility will be located in the southern “right to work” state, where unions are less prevalent and cannot demand workers to join.
Biden has described himself as the most pro-union president in history. But the deal, announced by Georgia’s Republican governor, demonstrated the concessions the president might have to make to attract investment.
Twitter fan. Beer specialist. Entrepreneur. General pop culture nerd. Music trailblazer. Problem solver. Bacon evangelist. Foodaholic.