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News Wire / economy

Hyundai Commits $26B to US Production

WBBM Newsradio 780 Seoul 16d16d Impact 5
South Korean automaker Hyundai plans to ramp up vehicle production within the United States. The company aims to avoid extra costs associated with tariffs that impact profits. This move follows global industry challenges including supply disruptions and uneven demand for electric vehicles. Currently, approximately half of Hyundai's vehicles are sold in the U.S. market. CEO Jose Munoz announced a $26 billion investment plan for the next four years to ramp up US production and mitigate 15% import tariffs.

Topics

automotive manufacturing trade

Developing

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Sources · 7 independent

WBBM Newsradio 780

“Hyundai is betting big on America. The South Korean automaker plans to ramp up its production in the U.S. Like the rest of the global auto industry, Hyundai has been dealing with tariffs along with supply disruptions and uneven demand for electric vehicles.”

WBBM Newsradio 780

“The South Korean automaker plans to ramp up its production in the U.S. Like the rest of the global auto industry, Hyundai has been dealing with tariffs along with supply disruptions and uneven demand for electric vehicles.”

WTOP Washington DC

“Hyundai therapy, Hyundai places a big bet. night shooting the White House Correspondents dinner at that.”

WTOP Washington DC

“We have made a big commitment to invest $26 billion in the next four years.”

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