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Biden meets with Hyundai Chairman as firm pledges US$ 10.5 billion investment in U.S.
Updated: 2022-05-23 07:53:20 KST

On his last day in Seoul, U.S. President Joe Biden met with Hyundai Motor Group chief Chung Eui-sun for a 50-minute long one-on-one.

"Biden's meeting with the Hyundai Motor chief follows the automaker's announcement on Friday of a plan to spend more than 5 and a half billion U.S. dollars to build its first electric vehicle and battery manufacturing plants in the U.S."

Hyundai's plan is in line with the Biden administration's agenda for a sustainable future.

"My administration is supercharging our efforts to lead the electric future. We're also making historic investments in battery manufacturing, clean transit and light rail."

The plants will be located just outside Savannah, Georgia, and are expected to open by 2025.
They're expected to create more than 8-thousand jobs.
But more to come.

With Biden on Sunday, Hyundai CEO Chung Eui-sun pledged to invest another five billion.

"Hyundai Motor Group plans to invest an additional 5 billion dollars by 2025, which will strengthen our collaboration with American enterprises in diverse technologies such as robotics, urban air mobility, autonomous driving and AI."

More than 10 billion dollars in U.S. investments.
With these plans, Chung said the company will help the United States reach its carbon neutrality goals.
Kim Yeon-seung, Arirang News
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