Sweden Living World Business Sports Entertain

Hyundai Commits 21 Billion to US Expansion with New Steel Plant

The South Korean car manufacturer Hyundai will invest 21 billion dollars in the USA over a four-year period, the company announces.

» Published: March 25 2025 at 04:03

Hyundai Commits 21 Billion to US Expansion with New Steel Plant

Photo: AP/TT

The package, which corresponds to over 210 billion kronor, includes, among other things, a new steel plant in Louisiana, which, according to Hyundai, will create 1,300 new jobs in the state.

The car manufacturer is the latest in a line of large corporations rolling out multi-billion investments in the USA since Donald Trump took office as president in January.

Trump has repeatedly threatened to impose painful tariffs on companies that do not move their manufacturing to the USA. Hyundai's investment is a "clear sign" that the strategy is working, according to the American president.

Hyundai will produce steel in the USA and its cars in the USA, and as a result, they will avoid paying tariffs, said Donald Trump to reporters on Monday.

Trending

Swedish Krona SEK Hits Strongest Level Against Euro and Dollar Since 2022

EU Backs Swedish Mining Projects to Boost Raw Material Supply

Raising Retirement Age Boosts Pensions for New Retirees in Sweden

Swedish Trade Outlook Dims as Confidence Hits Record Lows

Tags

More news

Wall Street Shows Cautious Gains as Economic Concerns Loom

Finnair Cancels 70 Flights Due to Finnish Trade Union Action

US to Ease Sanctions on Russian Agricultural Exports

Vattenfall to Build Germany's Largest Offshore Wind Farm by 2028

US Consumer Confidence Hits 12-Year Low Over Inflation Concerns

Gunvor Restructures Leadership After Oil Trading Setbacks

German Economy Shows Signs of Recovery with Improved Business Sentiment

Meta Proposes Monthly Fee for Ad-Free Facebook and Instagram in Europe

Kent Concerts Boost Stockholm Hotel Bookings by 22 Percent

Swedish Producer Prices Dip Slightly in February

Major Banks Boost Stockholm Stock Exchange as European Markets Rise

Tesla's EU Sales Drop 49 Percent as Electric Car Market Grows

Electricity Prices to Drop in Southern Sweden, Surge in the North

Asian Markets Diverge: Gains in Japan, Losses in China

Wall Street Rallies as Hopes Rise for Softer Tariff Policies

FBI Probes Tesla Attacks in US as Domestic Terrorism

Bayer Stock Drops 6.9 Percent Following US Court Ruling on Roundup

Trump's Tariffs Prompt Chevron to Exit Venezuela Operations

EU Trade Chief Heads to US for Crucial Talks on New Tariffs

Chinese BYD Surpasses Tesla in Annual Revenue with Record Sales

Tata Autocomp to Acquire Bankrupt IAC Group in Sweden

Princess Madeleine Ventures into Skincare with New Brand Minlen

Swedish Interest Rate Hike Odds Rise to 40 Percent, SEB Reports

Tesla Surges in Norway with Model Y Leading Car Sales

SAP Overtakes Novo Nordisk as Europe's Top Valued Company

Eurozone Gains Momentum as German Economy Shows Signs of Recovery

Stockholm Stock Exchange Ends Flat as Saab Leads Gains

Fortum Advances Nuclear Power Plans in Sweden and Finland

E-commerce in Sweden Sees 16 Percent Drop as Consumer Habits Shift

Rising Dairy Prices Boost Swedish Farmers' Profitability

Young Adults Find More Opportunities in Sweden's Housing Market

Asian Markets Open Lower as Tariff Concerns Weigh on Investors

Tourism to USA Declines as Travelers React to Trump's Policies

BYD Set to Break Records with Over $100 Billion Revenue in 2024

UK Government to Cut Expenses by 15 Percent Over Four Years

Car Exports to USA Surge Ahead of New Tariff Threats

Consumers Push Back as Food Costs Climb Despite Lower Spending

Sweden Sees 23 Percent Drop in Cash Machines Over Four Years

Swedes Struggle to Build Savings Buffers in Uncertain Economy

Police Call for Mandatory Reporting of Municipal Corruption in Sweden

Categories

Information

About Sweden Herald