Battery factory attacked received apology from the White House, Hyundai says investment plan in the United States remains unchanged.

Jose Munoz, CEO of Hyundai Motor Company, stated that despite the raid on its Georgia battery factory for allegedly using undocumented workers, the South Korean automaker will continue to advance its new technology development and expansion plans in the United States. Munoz also said, "We still believe that the trend towards electrification will continue," and "The market is giving us some good signs, showing that this is the right direction for development." When it comes to tariff issues, Munoz emphasized the need to completely restructure the supply chain through investing in local markets and improving operations. "You have to increase productivity," he said, pointing out that one way to achieve this goal is through the use of artificial intelligence and Siasun Robot & Automation technology. The top South Korean automaker is also pushing forward with its expansion plans in the United States. Previously, Hyundai and LG Energy Solution's battery factory in Georgia was raided in September and has since received an apology. During the raid, federal agents detained 475 workers, most of whom were South Koreans. "I received an apology call from the White House," he said at the forum. The Governor of Georgia "also called me and said 'I don't know what happened, this is not within the state's jurisdiction'." "So obviously, someone made a call to make it look like there were illegal immigrants. But that was not the case," Munoz said, adding that the raid did not change Hyundai's investment plans in the US, but the company will adjust its supply chain. Munoz had previously stated that the raid would delay the factory construction by at least two to three months due to labor shortages, posing a more serious challenge to Hyundai, which was already struggling due to high tariffs on Korean goods by the US (trade negotiations have been ongoing for months). Hyundai stated that the tariffs resulted in a loss of approximately 1.8 trillion Korean won (about $1.2 billion) in the third quarter. As the company increases its investment in the US to mitigate the impact of tariffs, it has lowered its profit forecast for 2025 while raising its overall revenue forecast. This raid exposed the risks faced by South Korea's investment of billions of dollars in the US clean energy plan. The images of detainees being handcuffed at the wrists, waist, and ankles during the shocking raid have been widely circulated, further exacerbating diplomatic tensions between South Korea and the US. Munoz called the incident a "terrible accident," but stressed that it has not diminished Hyundai's commitment to investing in the US. He added that the automaker will double down on its plans. "We can't just say that this will change our plans just because an obvious accident happened - we even received an apology from the US President," he said. "We are doubling our investment. We want to maintain our investment in the US. We believe that things will improve in the medium to long term. But clearly, we need to make significant adjustments to our supply chain and the products we are going to produce."