Eusiun Chung, CEO of Hyundai Motor Company, announced a new investment plan of 5 billion dollars after meeting with US President Joe Biden in the capital Seoul.
Announcing that it will open a new electric vehicle production facility of approximately 5.5 billion dollars in the state of Georgia, Hyundai's new investments in the USA by 2025 are expected to exceed 10 billion dollars.
It is noted that these investments will be in electric vehicle production as well as robotics, urban air mobility, autonomous driving and artificial intelligence.
It is stated that the factory that Hyundai will open in Georgia will employ approximately 8,100 people and the facility will produce 300,000 electric vehicles annually.
Biden satisfied with investments from South Korean companies
During his visit in Seoul, Biden expressed his satisfaction with the new investments that Hyundai and Samsung will make in the USA.
On Hyundai's electric vehicle project after meeting with Chung, Chairman Biden said, "Electric vehicles are good for our climate goals, but they are also good for business (industry)." said.
Biden, who also visited Samsung, which plans to open a $17 billion computer chip manufacturing facility in Texas on the first day of his contacts in South Korea, said, "(Investments) will bring the two countries closer and help strengthen our supply chains, It will secure them (companies) against shocks and give our economies a competitive advantage." used the phrases.
On the other hand, Biden, who visited the US soldiers at Osan Air Base before going to Japan, expressed that they were prepared against North Korea.
Biden is expected to complete his visit to South Korea today and go to Japan.
Comments
No comment yet.