Hyundai Steel, in partnership with Hyundai Motor Group, announced a $5.8 billion investment to build a new steel plant in Louisiana, U.S., with an annual capacity of 2.7 million tonnes.
This move is part of a broader $21 billion investment plan by Hyundai Motor Group in the U.S., revealed during a meeting with U.S. President Donald Trump at the White House on Monday.
The news initially sent Hyundai Steel's shares up by more than 5%, but the gains were quickly reversed, with shares ultimately dropping 4.4% later in the session, despite Trump’s praise for the company’s investment. Meanwhile, Hyundai Motor and Kia Corp, which are expected to source steel from the new plant, saw their shares rally. Hyundai Motor's stock surged as much as 7.5%, reaching its highest point since October 2024, while Kia’s shares gained 4.3%.
The proposed plant marks a significant expansion for Hyundai Steel in the U.S., as the company continues to build its presence in the North American market amid growing demand for steel. The new facility is expected to support Hyundai Motor Group’s continued push for greater manufacturing and supply chain integration in the U.S.
Norway’s Defence Minister, Tore O. Sandvik, affirmed that the United States remains committed to European defence, but emphasized that Europe must contribute more financially to ensure the U.S. can uphold its security commitments.
Italy’s President Sergio Mattarella expressed confidence on Monday that the European Union (EU) has the strength to effectively respond to potential U.S. tariffs.
China has narrowed the artificial intelligence (AI) development gap with the United States to just three months in certain areas, according to Lee Kai-fu, the CEO of Chinese AI startup 01.AI.
Tesla's market share in Europe continued its decline in February, according to new data, as sales of the all-electric carmaker dropped for the second consecutive month.
Talks between Russia and the United States, described as intense yet productive, are set to continue with the involvement of the United Nations and other countries, according to Grigory Karasin, a member of the Russian delegation.
At least 15 people have died as wildfires continue to ravage South Korea’s southeastern region, Yonhap News Agency reported on Wednesday.
Russia and Ukraine have agreed to suspend attacks on key energy infrastructure for 30 days, according to a statement published by the Kremlin on Tuesday.
The Department of Energy (DOE) has instructed its employees to label documents related to the agency’s review of grants and contracts under the controversial DOGE initiative with "legal privilege," in a bid to prevent them from being disclosed under the Freedom of Information Act (FOIA).
OpenAI has unveiled significant updates to its Advanced Voice Mode feature for ChatGPT, making its AI voice assistant more personable and responsive to user needs.
Slovakia has declared an emergency situation following the discovery of foot-and-mouth disease on three farms in the southern part of the country, the government announced on Tuesday.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
NASA astronauts Butch Wilmore and Suni Williams completed an unexpectedly long 286-day mission on the ISS, returning to Earth aboard a SpaceX capsule after delays caused by technical issues with Boeing’s Starliner.
Mexican forces have dismantled a massive meth lab in Zacatecas, dealing a blow to a Sinaloa Cartel faction.
Serbia’s parliament has officially accepted the resignation of Prime Minister Milos Vucevic, setting a 30-day deadline for the formation of a new government or the calling of snap elections.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
China has strongly criticized U.S. President Donald Trump's recent executive order, which threatens to impose a 25% tariff on all goods imported to the U.S. from any country that imports oil from Venezuela.
U.S. President Donald Trump announced on Monday that he anticipates a U.S.-Ukraine revenue-sharing agreement on Ukrainian critical minerals will be signed soon.
Australia is set to accelerate A$1 billion in defence expenditure in Tuesday’s federal budget, as part of a broader effort to enhance its military capabilities, Defence Minister Richard Marles announced on Monday.
In a move that could significantly boost India's artificial intelligence landscape, tech leaders OpenAI and Meta Platforms have engaged in separate discussions with Reliance Industries, according to a report by The Information.
The British government announced on Saturday a £600 million investment aimed at addressing severe construction skills shortages that threaten its ambitious plan to build 1.5 million new homes by 2029 and drive economic growth.
At least 15 people have died as wildfires continue to ravage South Korea’s southeastern region, Yonhap News Agency reported on Wednesday.
Russia and Ukraine have agreed to suspend attacks on key energy infrastructure for 30 days, according to a statement published by the Kremlin on Tuesday.
The Department of Energy (DOE) has instructed its employees to label documents related to the agency’s review of grants and contracts under the controversial DOGE initiative with "legal privilege," in a bid to prevent them from being disclosed under the Freedom of Information Act (FOIA).
OpenAI has unveiled significant updates to its Advanced Voice Mode feature for ChatGPT, making its AI voice assistant more personable and responsive to user needs.
Slovakia has declared an emergency situation following the discovery of foot-and-mouth disease on three farms in the southern part of the country, the government announced on Tuesday.
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