On Sunday, Hyundai Motor Group said that it is planning to invest an additional $5 billion in the USA by 2025. The investment is intended to strengthen collaboration with advanced technology firms based in the United States.
US President Joe Biden is on a three-day trip to South Korea. The announcement was made during his visit to Seoul. The Hyundai Motor Group intends to make strong partnerships in robotics, urban air mobility, artificial intelligence (AI), and the autonomous driving field.
President Biden said, “Hyundai and any company investing in the United States would benefit greatly from entering into partnerships with some of the most highly skilled, dedicated, and engaged workers in the world, anywhere you can find; and those are American union members.”
Additionally, he claimed, “Every venture to manufacture electric vehicles and electric vehicle batteries would be made stronger by a collective bargaining relationship with our unions.”
This investment makes Hyundai’s planned total investment in the USA about $10 billion by 2025.