Hyundai CEO Jose Munoz Details $12.6B U.S. Investment Strategy
Hyundai is investing $12.6 billion in the U.S. to expand EV and battery production, a move the automaker says will help weather potential policy shifts.
Elena Whitmore 
Major EV and Battery Manufacturing Investments
Hyundai Motor Co. has confirmed a total investment of $12.6 billion in the United States, with a primary focus on electric vehicle and battery production. The company is nearing completion of a new manufacturing facility in Georgia, where it will produce models such as the Ioniq 5 and the upcoming Ioniq 9. Additional preparations are underway to introduce hybrid vehicle manufacturing at the same site.
The investment package also includes joint ventures with battery makers SK On Co. and LG Energy Solution Ltd., aimed at boosting battery output to meet growing demand. These projects reflect Hyundai's continued strategy to deepen its footprint in the U.S. and secure a more resilient supply chain amid shifting geopolitical and trade dynamics.
CEO Highlights Localization Strategy
Speaking at the annual general meeting in Seoul, Jose Munoz, the recently appointed CEO of Hyundai and the company’s first non-Korean chief executive, addressed concerns about possible changes in U.S. policy under Donald Trump. Munoz noted that Hyundai’s “localization strategy” would “help mitigate the impact of any potential policy change.” He also emphasized that the decision to invest in the U.S. was initiated during Trump’s previous administration.
The comments come amid growing uncertainty around trade policy. Earlier this month, the Trump campaign announced a temporary one-month exemption from vehicle tariffs for cars made in Mexico and Canada, but no long-term direction has yet been laid out. Kia, Hyundai’s sister brand, operates a plant in Mexico with an annual capacity of 400,000 vehicles, making the future of regional manufacturing a closely watched issue.
Global Strategy Extends Beyond the U.S.
While the U.S. remains a critical market—Hyundai sold a record 912,000 vehicles there last year, capturing a 5.7% market share—the company is also making moves in other regions. In Europe, Hyundai plans to launch additional EV models like the Casper and Ioniq 9 to align with tightening environmental regulations.
In the Middle East, the company is establishing a completely knocked-down (CKD) production operation in Saudi Arabia to enhance regional distribution capabilities. Meanwhile, Hyundai continues to face challenges in China, where its market share is under 1%. Munoz stated that the automaker will introduce new electric models tailored to local preferences in an attempt to regain ground in the competitive Chinese EV market.
