As President Donald Trump plans to slap tariffs on imported automobiles and other products, Hyundai, a South Korean company with a significant U.S. footprint, is touting its involvement in the American economy.
Trump has indicated that auto tariffs will "be in the neighborhood of 25%."
"Since entering the United States, Hyundai Motor Group has invested $20.5 billion in the U.S., creating and supporting more than 570,000 American jobs," a statement provided to Fox News Digital on Friday by a Hyundai Motor North America spokesperson reads.
The Hyundai logo is displayed at the New York International Auto Show, March 28, 2018, at the Jacob K. Javits Convention Center in New York City. (Drew Angerer/Getty Images)
The company has a new electric vehicle manufacturing plant in the Peach State.
"This includes the Hyundai Motor Group Metaplant America (HMGMA) site in Bryan County, Georgia, the largest economic development project in Georgia’s history, which will have the capacity to produce 300,000 vehicles for the American market annually. We are closely monitoring new U.S. policy developments. To protect long-term profitability, we are internally reviewing various business strategies," the statement noted.
Hyundai has also had a manufacturing facility in Alabama for years.
Hyundai Motor Company president and CEO José Muñoz has pointed to "localization" as key to weathering tariffs.
"So the best way for us to navigate tariffs is to increase localization," Muñoz noted, Axios reported last month.
He stated in a recent LinkedIn post, "Hyundai Motor Company (현대자동차) and our parent company Hyundai Motor Group are investing billions of dollars in America and creating tens of thousands of high paying American jobs."
"Through our growing U.S. manufacturing footprint, HMG produced more than 700,000 vehicles in America last year. We take pride in our commitment to U.S. manufacturing, with design, engineering and assembly occurring in America to support the U.S. economy," he noted.