President Donald Trump announced a massive $4.2 billion investment by German automaker Audi during a campaign rally in Georgia on Saturday, touting plans for a new manufacturing plant that he said would produce 200,000 vehicles annually.

Speaking during a campaign event in Perry, Trump said construction on the new plant could begin as early as next month.

“Today I’m thrilled to announce a massive auto manufacturing investment in the great state of Georgia by a fantastic company,” Trump said. “Audi has just committed to invest $4.2 billion in nearby Macon, Georgia to begin the construction next month on a massive plant that will produce 200,000 cars a year.”

“That’s incredible,” Trump continued, before describing the investment as a historic milestone for the American auto industry.

“This will be the single largest investment in U.S. auto industry history, modern history,” he said.

The facility, Audi’s first U.S. manufacturing plant, is expected to create approximately 4,500 jobs and produce premium SUVs for the North American market, according to Georgia officials.

The president also touted what he described as $40 billion in broader auto industry investments that he said would create 30,000 jobs.

Trump credited Commerce Secretary Howard Lutnick with helping secure the deal and invited Audi executives to join him onstage, including Audi CEO Gernot Döllner and Audi North America President Vito Paladino.

Döllner thanked the president for his support, saying the investment would have a significant impact.

“It’s a fantastic opportunity for Audi, for the Audi team and for America,” Döllner said.

“We are planning to bring our biggest and most premium SUVs and produce them here in Macon, Georgia,” he continued. “This is a long-term investment because we believe in the American market.”

The automaker’s investment was the latest initiative Trump unveiled during a series of recent campaign appearances.

On Friday, Trump announced a new $275 million initiative during a rally in Florida to recruit and retain nurses in nursing homes.

FOX Business’ Jasmine Baehr contributed to this report.