A celebration parade is taking place at the Hyundai Motor Manufacturing Alabama (HMMA) in Montgomery, Alabama, USA, commemorating the achievement of 5 million cumulative vehicles produced. Hyundai Motor announces a $29 trillion investment plan in the U.S. on the 24th./Courtesy of Hyundai Motor

Hyundai Motor is expected to announce a $20 billion investment plan in the United States.

According to Reuters and CNBC, Hyundai Motor Group will announce a large-scale investment plan on the 24th (local time), which includes a steel plant in Louisiana.

Reports indicate that Euisun Chung, chairman of Hyundai Motor, will hold an investment announcement event at the White House on that day with U.S. President Donald Trump and Louisiana Governor Jeff Landry.

The steel plant in Louisiana is estimated to employ 1,500 people and is expected to produce steel products for Hyundai's automobile factories in the United States.