SEOUL— Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.

The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said.

Talks are continuing and no final decisions have been made, with a start date for oven-range production still undetermined, the people said, so the details may change.

In subsequent years, Samsung could eventually ramp up U.S. manufacturing of refrigerators, washers, dryers and other home appliances, which could make the total investment significantly larger, according to people familiar with the discussions. But no firm deadline or commitment is set for those decisions, the people said.

Samsung’s interest in a U.S. factory was influenced by the election of U.S. President Donald Trump, according to people familiar with the matter. Mr. Trump campaigned on a desire to create more manufacturing jobs in the country—and has threatened potential penalties for companies that don’t comply.