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2 clusters · 6 sources · 11 days · First seen · Last updated

Hyundai industrial expansion in the United States

Overview

Hyundai-related industrial developments are expanding across the United States. In Alabama, Seohan Auto USA announced a $64 million expansion of its Auburn facility to increase capacity for assembling and machining components for Hyundai and Kia.

In Louisiana, a legal challenge from groups such as Rural Roots Louisiana and the Louisiana Bucket Brigade regarding state cooperative agreements was resolved when a judge ruled that Hyundai may proceed with its $5.8 billion steel mill project in Ascension Parish.

Following this ruling, Hyundai Steel has broken ground on the electric arc furnace-based mill at the Riverplex Megapark in Modeste. The facility, a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company, and Kia Corporation, is expected to begin commercial production in 2029. The project aims for an annual capacity of 2.7 million tonnes of steel sheets and is projected to create 5,400 jobs. The mill is designed to use technology that can reduce carbon dioxide emissions by approximately 70 percent compared to traditional coal-based production.

Entities

Louisiana Economic Development · Hyundai Motor Group · Auburn · POSCO · Ascension Parish

Timeline

  1. 5 days ago

    [BUSINESS] 4 sources
    Hyundai Steel breaks ground on $5.8B Louisiana steel mill

    Hyundai Steel has launched a $5.8 billion steel mill project in Louisiana to produce automotive steel, aiming for commercial production by 2029 and creating approximately 5,400 jobs.

  2. 16 days ago

    [BUSINESS] 2 sources
    Hyundai-related industrial projects advance in Alabama and Louisiana

    Hyundai-related industrial developments are progressing in the US, including a $64 million expansion by Seohan Auto USA in Alabama and a legal victory allowing a $5.8 billion steel mill in Louisiana.

Sources

australianmanufacturing.com.au · interestingengineering.com · koreaherald.com · m.koreatimes.co.kr · spotonalabama.com · wbrz.com