U.S. President Joe Biden said today (22nd) about Hyundai Motor Group's investment in the U.S. "Thank you for choosing the U.S. and the U.S. will not disappoint Hyundai Motor Company."
President Biden said at a press conference today after meeting with Hyundai Motor Group Chairman Chung Eui-sun at the Grand Hyatt Hotel in Seoul, "I am delighted to announce an investment of over $10 billion, about 13 trillion won, in the US manufacturing industry."
"The $5 billion, or more than 6 trillion won investment in advanced automotive technology and the $5.5 billion or 7 trillion won factory in Savannah, Georgia will create more than 8,000 jobs by January next year," he said. explained.
"This facility will make the latest electric vehicles and batteries starting in 2025," he said. "This is an economic opportunity for Americans."
He also praised, "Manufacturing is returning to the United States under this government. This government created 545,000 manufacturing jobs."
President Biden said, "Thanks to Hyundai, America's auto industry is transforming and America's goals in the future of electricity are accelerating."
He went on to explain his policy to have 50 percent of all new cars sold by 2030 be electric, and he said, "It's a bold goal, but I believe it will be achievable."
“Electric vehicles are good for environmental goals, good for our jobs and good for business,” he said.