Grand Hyatt Seoul
Seoul, Republic of Korea
11:22 A.M. KST
PRESIDENT BIDEN: Thanks, Mr. Chairman.
CHAIRMAN CHUNG: Thanks.
PRESIDENT BIDEN: Properly, thanks, Mr. Chairman. It’s — I believe the final time we had been collectively, we had been at a college. Was it two thousand and —
CHAIRMAN CHUNG: Yeah, Yonsei College. 2013.
PRESIDENT BIDEN: 2013. He confirmed me an image. I didn’t have much more hair then both. (Laughs.)
It’s nice to be right here to announce the greater than $10 billion in new funding in American manufacturing. This new dedication of $5 billion for superior automotive know-how and $5.5 billion funding to open a brand new manufacturing facility close to Savannah, Georgia, goes to create greater than 8,000 new American jobs.
The plan is to interrupt floor as quickly as January of 2023. And the brand new facility must be rolling out the newest electrical autos and batteries to energy them by 2025.
And the employees in Georgia who will construct these pla- — these crops and manufacture this new electrical battery know-how, it means financial alternative for an terrible lot of People.
And I need to commend my pals and the 2 senators in Georgia, Rafael Warnock and Jon Ossoff, for a way they’ve been preventing for Georgia to be the magnet for this clear vitality funding.
And these investments are a part of a pattern my administration — in my administration. Manufacturing jobs are coming again to America.
Even earlier than these new investments, my administration, since coming to workplace, created 545,000 new manufacturing jobs since we took workplace.
And due to Hyundai, we’re being a part of this transformative car sector and accelerating us on the highway the place we’re going to be dealing with [heading] to — the USA — an all-electric future. And that’s what we’re taking pictures for.
Our administration is setting bold requirements to chop air pollution in automobiles and vans and increase — increase gas financial system requirements for these persevering with to function on gasoline.
And final 12 months, standing along with the CEOs of main American producers, together with the CEO and the pinnacle of the United Auto Staff, I signed an govt order setting a objective of getting 50 p.c of all new autos bought by the 12 months 2030 be electrical. And it’s an bold goal, I do know, however I consider we will meet it.
However we’re all dedicated to creating it occur — auto corporations, American UAW, and the — and the federal authorities as effectively — as a result of all perceive the identical fundamental factor: Electrical autos are good for our local weather targets, however they’re additionally good for jobs, and so they’re good for enterprise.
Hyundai and any firm investing in the USA would profit significantly from coming into into partnerships with a few of the most extremely expert, devoted, and engaged staff on the earth, wherever you could find. And that’s American union members.
And once more, each enterprise to fabricate electrical autos and electrical automobile batteries can be made stronger by a collective bargaining relationship with our unions.
Investing aggressively in electrical autos and battery manufacturing now — now, not tomorrow — now — can be necessary for strengthening our long-term financial safety and accelerating progress towards a clean-energy future.
, due to Putin’s battle, we’ve been type of knocked off barely, slightly bit, due to the influence of the — influence of Russian oil on Europe.
However batteries — batteries that shall be made at this new facility in Georgia are going to energy automobiles with out one drop of gasoline and enhance safety of our battery provide chains as effectively.
That’s going to serve — save households cash on the pump as a result of they will skip the pump altogether. And as an alternative, households will be capable to cease at considered one of 500,000 new electrical automobile stations — a part of the community we’re going to be constructing throughout America with the $7.5 billion in funding from the Bipartisan Infrastructure Regulation.
And the Chairman advised me strolling out right here that they’re additionally going to be investing in battery techno- — in charging stations as effectively.
My administration — and, by the way in which, once you put money into a charging station alongside a freeway, it’s slightly bit like years and years in the past, after we had been beginning to construct cars in America and also you’re investing in a gasoline station. Different issues pop up round it. It has — it has an impact of producing financial progress simply by placing within the station. And I believe you’re going to see that as effectively in the USA.
My administration is supercharging efforts to guide the electrical future.
We’re additionally making historic investments in battery — battery manufacturing, clear transit, and light-weight rail.
For instance, we’re going to be investing $5 billion to rework our fleet of practically 500,000 polluting, diesel college buses into clear, all-electric autos.
And my local weather and jobs agenda is making the USA a premier vacation spot for savvy personal corporations trying to put money into the electrical automobile future.
In actual fact, at this time’s welcome announcement by Hyundai comes on high of a further $100 billion of investments within the final 12 months from corporations in America — in American manufacturing to construct electrical autos and electrical batteries.
And so, people, the administration goes to remain laser-focused on innovation and batteries and EVs, constructing out our infrastructure and rising the market demand.
So, Chairman Chung, thanks once more for selecting the USA. We won’t allow you to down.
And over these final two days, I’ve been focusing all my — all of the methods by which the Republic of Korea and the USA can work carefully collectively to form the path of our world for the higher.
This deal is one other prime instance of how that partnership — and innovation, experience, and values that drive each the Korean and American individuals — are delivering for the world.
So I thanks all for being a part of this very integral clear, electrical automobile future, not solely right here however in my nation, and for deepening the ties between our two nice democracies.
Thanks all so very a lot. Thanks.
Q President Biden, are you involved a couple of North Korean missile check whilst you’re right here in Asia?
PRESIDENT BIDEN: We’re ready for something North Korea does. We’ve had — we’ve thought by means of how we’d reply to no matter they do. And so, I’m not involved, if that’s what you’re suggesting.
Q Do you may have a message for Kim Jong Un whilst you’re right here?
PRESIDENT BIDEN: “Howdy.” Interval.
Thanks.
11:29 A.M. KST