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Hyundai Motor recently revealed its plans to invest in the U.S. for the production of electric vehicles. The company said it would put in a $7.4 billion investment for the construction of a new facility so it can focus on EVs.
Hyundai’s goal for investing in America
Hyundai Motor announced its plans for business in the U.S. earlier this week and said that its aim is to produce more electric vehicles, improve its facilities and allot more funds in smart mobility solutions. The South Korean automaker also mentioned about the benefits of building its facility in the region as it can enjoy tax breaks as well under the new law for EV makers.
“This investment demonstrates our deep commitment to the U.S. market, our dealers and customers,” José Muñoz, Hyundai Motor North America’s president and CEO, said. “Hyundai will lead the future of mobility in the United States and around the world. Our efforts are proof positive that Hyundai will continue to pursue excellence in our current and future product line-up."
It was predicted that Hyundai will build its new plant close to its existing Alabama facility in the U.S. Kia is also part of this scheme so a huge investment is involved.
Korean union criticized Hyundai’s decision
Now, it was reported that the workers union in South Korea were enraged with Hyundai’s investment plans and criticized the company for choosing to do business and provide jobs to people overseas rather than in their own land.
As per The Korea Times, the union insists that the management of the carmaker should put their attention on improving domestic factories helping workers produce high-value goods. In particular, the union of Hyundai’s affiliate, which is Kia, called on their employers to focus on the production environment in local manufacturing plants.
They also asked Hyundai and Kia to ensure job stability in their own country. Moreover, with the speculations that Hyundai’s plans to invest in America were politically motivated, Hyundai Motor labor union stated that for this, the company should be criticized even more.
The union added that since the carmakers already have facilities in the U.S., that is enough and they should now focus on S. Korea. Despite the criticisms, a professor at Gangdong University sees benefits for unionized workers in Hyundai’s investment overseas. However, they just don’t understand this, so they are protesting.
"The more profit Hyundai Motor Group makes, the more it can spend on the improvement of domestic plants, as demanded by the unionists," the professor stated. "Unfortunately they seem to be too short-sighted.
