U.S. President Donald Trump said on the 16th that "Hyundai just announced that they're investing $560 million to expand their plant in West Point, Georgia."
Trump relayed the investment plan at a midterm election rally in Dalton, Georgia. "Our country is doing really well under Republican leadership," he said, highlighting the policy achievements of his second term.
The project Trump referred to appears to be an investment plan by Hyundai Transys, the auto parts manufacturing affiliate of Hyundai Motor Group.
Georgia Gov. Brian Kemp disclosed the plan in a press release on the 8th, saying the company plans to create 320 new jobs as part of its continuing effort to support global automotive customers operating in North America.
According to the release, Hyundai Transys will use the funds to modernize its existing Plant 1 and Plant 2 in West Point and to build a third plant.
The state said the expansion will support increased production capacity for electrified powertrains used in hybrid vehicles, adding that Hyundai Transys plans to hire in administrative, management and production roles.