Hyundai Motor Group's to invest $5.8 billion in the U.S.

South Korean-based Hyundai is going to invest $5.8 billion in the United States, President Donald Trump announced from inside the Roosevelt Room.

Trump and Louisiana's Republican Governor Jeff Landry gave remarks Monday afternoon as Hyundai announced it would build a $5.8 billion steel plant in Louisiana as part of $21 billion in planned U.S. investment over the next four years.

"Get ready. This investment is a clear demonstration that tariffs very strongly work," said Trump, adding that the new plant by the South Korean automaker would create 1,400 jobs and will produce steel that will be used by the automaker's two U.S. auto plants to manufacture electric vehicles. "They’ll be making their cars here in America."

(Photo by Win McNamee/Getty Images)

Stay up to date with our social media:

#Fresno #California #trending #video #trump #hyundai

Have a news tip? Send it directly to us:

Call the Newsroom: 559.453.8850

KMPH and KFRE are CA based stations and FOX and CW Television affiliates owned and operated by Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today.

[rickjtrejo]

American money goes to foreign billionaires

[whitemoon]

South Korea will have serious unemployment issues in automobile value chain if Hyundai moves capacity to US. The South Korea market is a mature car market will not be able to absorb those volumes that were exported to US. Similarly the US car market is not growing exponentially to absorb those extra investment capacity.