- CapEx: $5.8 billion
- Jobs: 5,400 (more than 1,300 direct new jobs, 4,100 indirect new jobs)
- Product: Ultra low-carbon steel
- Location: Ascension Parish / Capital Region
- Project overview:
- Hyundai Motor Group has made a groundbreaking decision to invest $5.8 billion in a new manufacturing facility in Louisiana.
- This first-of-its-kind site marks Hyundai’s inaugural North American steel facility, establishing a fully integrated, made-in-America supply chain to support its automotive manufacturing operations across the United States.
- The state-of-the-art electric arc furnace (EAF) steel mill is expected to produce 70% lower emissions than traditional blast furnaces, aligning with the Hyundai Motor Group’s mission to advance sustainable energy solutions across all of its subsidiaries.
- Estimated Completion: 2026
- LED news release: March 24, 2025
Company website: hyundaimotorgroup.com