Biden hails Hyundai's $10bln investment in US

U.S. President Joe Biden tended to both business and security interests Sunday as he wraps up a three-day visit to South Korea, showcasing Hyundai’s pledge to invest at least $10 billion in electric vehicles and related technologies in the United States. Hyundai's investment includes $5.5 billion for an electric vehicle and battery factory in Georgia.

Joe Biden, U.S. President said “The new facilities should be rolling out the latest electric vehicles (EV's) and batteries to power them by 2025. The workers in Georgia will build these plants to manufacture this new electric battery technology means economic opportunity for an awful lot of Americans." 

The major U.S. investment by a South Korean company is a reflection of how the U.S. and South Korea are leveraging their longstanding military ties into a broader economic partnership.