The president and chief executive officer of the Hyundai Motor Company, Jose Munoz, responds to the planned prices of the automotive industry on “the Clarman’s countdown”.
The CEO of Hyundai Motor Company, Jose Munoz, appeared on Wednesday on “Claman’s countdown“Where he talked about the newly announced massive investment of the Hyundai Motor Group in the United States
Its appearance in the show came the same day that the automaker marked the large official opening for its Hyundai Motor Group Metaplant America (HMGMA) near Savannah, Georgia and a few days later Hyundai revealed that it will put $ 21 million in the coming years to increase manufacturing in the United States
“We open the so-called HMGMA Metaplant America, which includes $ 12.6 billion. It is an assembly plant with a capacity of 300,000 that I announced today, it will reach up to 500,000 and two battery factories,” he told Liz Claman. “And as you pointed out, just before starting the interview, our Executive President, Mr. Chung, announced before the President of the United States, President Trump, whom we plan to invest $ 21 billion by 2028 in a certain number of mega projects, including the new electric Fournaise factory in Louisiana.”
The Hyundai logo is exhibited at the New York International Auto Show on March 28, 2018 at the Jacob K. Javits Convention Center in New York (Drew Angerer / Getty Images / Getty Images)
The new investment of $ 21 million that Hyundai unveiled on Monday will include $ 9 billion to bring its annual production capacity to the United States to 1.2 million vehicles, $ 6 billion to “improve the location and logistics of parts” and 6 billion dollars towards more “collaboration in future industries” such as autonomous driving and robotics and for energy infrastructures, Society.
Hyundai to invest $ 20 billion in American manufacturing
The appearance of Munoz on “The Claman Countdown” also came before President Donald Trump said he would put a new price on imported vehicles on Wednesday.
The CEO of Hyundai Motor Company told Claman that the company “had made a major decision to invest in America” during the administration of anterior Trump.
Hyundai First Assembly and Manufacturing Factory in the United States is just outside Montgomery, Alabama, (Carol M. Highsmith / Buyenlange / Getty Images / Getty Images)
“America is the largest market for us, and we then decided to make the largest investment in the world with these $ 12.6 billion,” he said. “There is nothing better to combat potential prices than locating our production in America, providing jobs.”
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“Few people know that we are really a big business that produces not only cars, but steel and many other things,” continued Munoz. “And with all these new investments that we announced on Monday, we bring about 670,000 jobs, direct and indirect. It’s massive.”
He said vehicles That Hyundai will manufacture to his factory in Savannah, in Georgia, “they will probably have to pay any price”.
President Trump announces new car rates
The automaker is the last one among an increasing number of companies announcing plans to increase investments in the United States under the Trump administration, which uses prices to encourage companies to bring manufacturing to American soil and reduce dependence on foreign products.
Washington, DC – January 21: US President Donald Trump responds to a journalist at a press conference in the White House Roosevelt room on January 21, 2025 in Washington, DC. Trump announced an investment in artificial intelligence (Images Andrew Harnik / Getty / Getty Images)
Trump has implemented a series of prices since its entry into office, including 20% samples from goods imported into the United States from China. Mexico and Canada were also struck by prices, but Trump then introduced exemptions for these two countries on goods under the US-Mexico-Canada Agreement until April.
Steel and aluminum imports have also become subject to new prices.
Daniella Genovese has contributed to this report.
