Hyundai Motor Group (HYMTF), the South Korean conglomerate that also owns the Kia and Genesis brands, reportedly plans to announce a $20 billion investment in the U.S. as tariffs loom.

CNBC (CMCSA), citing people familiar with the automaker’s plans, reports that Hyundai will invest $5 billion in a Louisiana steel plant. Some 1,500 people will be hired to make the next-generation steel used to make Hyundai’s electric vehicles in the U.S., according to the report.

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.

The investment is expected to be officially revealed by President Donald Trump, Lousiana Gov. Jeff Landry, and Hyundai Chairman Euisun Chung on Monday afternoon. Hyundai declined to comment.

The plans come as major companies, including automakers, look to avoid Trump’s threats to spike tariffs.

Japanese investment giant Softbank and Taiwan’s TSMC (TSM) have made major announcements at the White House. Apple (AAPL), which makes its iPhones and other products overseas and received a tariff exemption during Trump’s first term, announced a $500 billion investment plan. Honda Motor Co. (HMC) has reportedly ditched a plan to move some work to Mexico from Indiana.

Hyundai officials have been in touch with Trump’s aides since he won the election in November, according to The Wall Street Journal. The automaker also donated $1 million to his inaugural fund, a first for the company.

The president has already introduced tariffs on all foreign steel and aluminum and plans to introduce broad “reciprocal” tariffs next month. Although the White House’s plans have reportedly been narrowed down, Trump has repeatedly called for universal duties and sector-specific tariffs on products like vehicles.

Trump hit imports from Mexico and Canada with a 25% tariff, although he granted a one-month reprieve for products compliant with the USMCA trade deal. About 8% of the vehicles Hyundai sells in the U.S. are sourced from Mexico, according to S&P Global Mobility (SPGI) data. It’s unclear whether those vehicles are protected from the tariffs.

Hyundai Motor Co. CEO José Muñoz, while speaking at the company’s annual shareholder meeting, emphasized the company’s work to build vehicles in the U.S. for that market. Hyundai’s Georgia plant will ramp up work on the all-electric Ioniq 5 and Ioniq 9, as well as hybrid vehicles, according to The Korea Times.

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