Hyundai Motor Group announced on Tuesday that it will invest $21 billion (31 trillion won) in the U.S. over the next five years to expand local vehicle production and enhance its artificial intelligence (AI) and electric vehicle (EV) capabilities. Executive chair Chung Eui-sun stated that the investment will “strengthen Hyundai’s position in the North American market” while aligning with U.S. industrial policy.

The investment includes the construction of a new EV production line at Hyundai’s Georgia plant, expansion of its autonomous driving R&D center in California and the establishment of an AI-focused mobility lab. Hyundai plans to allocate $8.5 billion toward EV production and infrastructure, $6.2 billion toward AI and autonomous driving and $6.3 billion toward internal production upgrades and supply chain integration. The company stated that the investment will create about 14,000 new direct full-time jobs in the U.S. by 2028.