Hyundai Motor Group is considering building its first overseas steel plant in the United States

The Korea Economic Daily recently reported that Hyundai Motor Group is considering building its first overseas steel plant in New Orleans, Louisiana. The move is aimed at protecting Hyundai Motor Group from protectionist policies introduced during Trump's second term.
Hyundai Motor Group recently selected New Orleans, Louisiana for a plant in Texas, Georgia and Louisiana. Hyundai Motor Group is "reviewing" its plan to build its first overseas steel plant in the U.S. The plant could start construction as early as spring 2026 and start production in 2029.
The panels produced by Hyundai Motor Group's steel plant in the United States will mainly supply its two vehicle manufacturing plants in the United States. The two complete vehicle manufacturing plants in Alabama and Georgia will produce 330,000 and 350,000 vehicles a year, respectively. Given the scale of the investment, Hyundai Motor Group's steel plant in the United States could have an annual capacity of several million tons. The steel plants under consideration may use direct reduction technology, which has a lower carbon footprint than the blast-furnace converter process, which also improves the likelihood of the project being approved.
At present, South Korean steel companies are grappling with challenges such as high tariff barriers and low emission requirements. South Korea's annual steel export quota to the United States is 2.68 million tons. Hyundai Motor Group's construction of a steel plant in the United States will reduce the policy risk of conducting trade in the United States and increase the opportunity for cars to receive U.S. tax credits at a time of increasing trade protectionism in the United States, as well as reduce logistics expenses and production costs.
It is reported that Hyundai Motor and Kia Motors (both Hyundai Motor Group) are producing about 1.2 million tons of panels at their U.S. plants. Hyundai Steel automotive plate products accounted for 17% of exports, its goal is to increase this proportion to 40%, becoming the world's third largest automotive steel supplier

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