Hyundai, through its Hyundai Steel subsidiary, will invest $5.8 billion in a Louisiana steel plant, President Donald Trump said at a press conference alongside Hyundai executives and Gov. Jeff Landry. The plant will employ some 1,300 people and make more than 2.7 million metric tons of steel each year, which will be used to build Hyundai’s vehicles.

The plant will serve “as the foundation for a more self-reliant and secure automotive supply chain in the U.S.” Hyundai Executive Chairman Euisun Chung said at the press conference.

Hyundai currently makes a handful of models at its factory in Montgomery, Alabama, and recently began producing electric SUVs at a manufacturing plant west of Savannah, Georgia. Kia makes some electric and gas-powered vehicles at a plant in West Point, Georgia.

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