Hyundai Steel-POSCO Louisiana Steel, or HPLS, is being built in Donaldsonville, Louisiana, as a $5.8 billion fully integrated electric-arc-furnace mill dedicated to automotive sheet steel. The facility is scheduled to begin commercial production in 2029, with annual capacity of 2.7 million tons, including 1.8 million tons of automotive sheet and 900,000 tons of general steel products. Its direct reduction plant will convert iron ore into direct reduced iron, or DRI, using natural gas and other inputs, a process Hyundai Steel says cuts carbon emissions by about 70% compared with coal-fired blast furnaces. Hyundai Steel holds 50% of HPLS, while Hyundai Motor and Kia each own 15% and POSCO owns 20%. Hyundai Motor, Kia and POSCO are allocated 1.4 million tons of the mill's automotive-sheet output. The project forms part of Hyundai Motor Group's U.S. investment package, raised from $21 billion in March 2025 to $26 billion.