How Hyundai Motor Group is driving U.S. jobs, innovation and more
Why it's important: Hyundai Motor Group (HMG), which includes Hyundai, Kia and other affiliates, is investing more than $20.5 billion in America across industries, including mobility, parts, construction and emerging technologies.
It's also created more than 570,000 jobs nationwide. That's more than the population of Baltimore.
In 2024, more than 700,000 HMG vehicle
s were made in America, further supporting the U.S. economy.
🚗 Hyundai Motor Group's latest groundbreaking investment
HMG's newest and biggest investment — the Hyundai Motor Group Metaplant America (HMGMA) — involves a $7.59 billion investment and is set to create 8,500 new jobs.
The state-of-the-art facility in Bryan County, Georgia, is HMG's first dedicated electric vehicle (EV)and hybrid mass-production plant.
Up to 300,000 vehicles are expected to be produced annually at the Metaplant.
The first vehicle that rolled off the line: the 2025 Hyundai IONIQ 5, an award-winning all-electric SUV.
More info: The Metaplant is an intelligent smart manufacturing facility, where AI and data-driven insights optimize every stage of production. Robots assist workers, creating a safer and more efficient environment.
HMGMA is also leading the way in sustainable transportation with Hyundai XCIENT hydrogen fuel-cell trucks. These zero-emissions heavy-duty trucks transport vehicle parts from suppliers to the Metaplant.
👷 Empowering America's workforce
HMGMA has already hired more than 1,000 full-time employees, known as "Meta Pros" — a name that reflects their essential role in transforming mobility and manufacturing.
How it's done: To prepare workers for the smart manufacturing facility, HMGMA has partnered with four local technical colleges to offer student training programs.
The Metaplant has also broken ground on the Hyundai Mobility Training Center of Georgia. The facility, opening in late 2025, will be operated by Georgia Quick Start and provide free training for employees.
Meet Meta Pro Tucker Copeland. The 20-year-old from Lyons, Georgia, graduated high school in 2022 and now works at HMGMA.
"There's plenty of opportunity for growth," he says. "When you step foot in here, it's going to blow your mind. If you stick with it, you'll do great. This is the future."
🤝 Contributing to the community
In addition to manufacturing, HMG is also giving back to Americans and their communities.
An example: Hyundai Hope On Wheels is one of the largest nonprofit funders of pediatric cancer research in the U.S. with a lifetime total donation of $250 million since 1998.
The takeaway: Hyundai Motor Group isn't just building cars — it's building its future here in America. With a four-decade legacy in U.S. manufacturing, HMG is driving innovation, economic growth and community.
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CNBC
an hour ago
- CNBC
What the Senate Republican tax-and-spending bill means for your money
Senate Republicans on Tuesday approved their version of President Donald Trump 's multitrillion-dollar tax-and-spending package, which could broadly impact millions of Americans' wallets. Similar to the House's One Big Beautiful Bill Act advanced in May, the Senate legislation aims to make permanent Trump's 2017 tax cuts, while adding new tax breaks for tip income, overtime pay and auto loans, among other provisions. If enacted, the bill could also slash spending on social safety net programs such as Medicaid and SNAP, end tax credits tied to clean energy and overhaul student loans. The spending package could still see changes as it returns to the lower chamber for approval. But a House floor vote could come this week to meet Trump's July 4 deadline. Here are some of the key provisions to watch — and how those measures could affect household finances. How to read this guide Follow along from start to finish, or use the table of contents to jump to the section(s) you want to learn more about. 'SALT' deduction Since 2018, the $10,000 cap on the state and local tax deduction, known as SALT, has been a critical issue for certain lawmakers in high-tax states such as New York, New Jersey and California. The SALT deduction — which lets taxpayers who itemize deduct all or some of their state and local income and property taxes — was unlimited for filers before 2018. But the alternative minimum tax reduced the benefit for some wealthier Americans. A sticking point for some House lawmakers, the lower chamber approved a permanent $40,000 SALT limit starting in 2025. That benefit begins to phaseout, or decrease, for consumers who have more than $500,000 of income. The Senate version of the bill would also lift the cap to $40,000 starting in 2025. It also begins to phaseout at $500,000. Both figures would increase by 1% yearly through 2029, and the $40,000 limit would revert to $10,000 in 2030. If you raise the cap, the people who benefit the most are going to be upper middle-income. "If you raise the cap, the people who benefit the most are going to be upper middle-income," since lower earners typically don't itemize tax deductions, Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center, previously told CNBC. The Senate bill also preserves a SALT cap workaround for pass-through businesses, which allows owners to avoid the $10,000 SALT limit. By contrast, the House bill would eliminate the strategy for certain white-collar professionals. — Kate Dore The child tax credit gives families with qualifying dependent children a tax break. It's a credit, so it reduces their tax liability dollar-for-dollar. Trump's 2017 tax cuts temporarily boosted the maximum child tax credit to $2,000 from $1,000, an increase that will sunset after 2025 without an extension from Congress. If enacted, the Senate bill would permanently bump the biggest credit to $2,200 starting in 2025 and index this figure for inflation starting in 2026. Momo Productions | Getty Meanwhile, the House version of the bill lifts the top child tax credit to $2,500 from 2025 through 2028. After 2028, the credit's highest value would revert to $2,000 and be indexed for inflation. However, the proposed bills wouldn't help 17 million children from low-income families who don't earn enough to claim the full credit, according to Elaine Maag, senior fellow in the Urban-Brookings Tax Policy Center. — Kate Dore Older Americans may receive an extra tax deduction under the legislation. Both the House and Senate called for a temporary enhanced deduction for Americans ages 65 and over, dubbed a "bonus," in their respective versions of the "big beautiful" bill. The Senate proposed raising the deduction to $6,000 per qualifying individual, up from $4,000 proposed by the House. The full deduction would be available to individuals with up to $75,000 in modified adjusted gross income, and $150,000 if married and filing jointly. Notably, the Senate version would phase out at a faster rate for taxpayers who are above those thresholds. Ultimately, middle-income taxpayers may benefit most from the enhanced deduction, Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center, recently told CNBC. The senior bonus is in lieu of eliminating taxes on Social Security benefits, which had been touted by the Trump administration, since changes to Social Security are generally prohibited in reconciliation legislation. — Lorie Konish As Republicans seek to slash federal spending, Medicaid, which provides health coverage for more than 71 million people, has been a target for those cuts in both House and Senate versions of the bill. The Senate version would cut more than $1 trillion from Medicaid, compared with more than $800 billion in cuts in the House version, according to Congressional Budget Office estimates. New federal work rules would require beneficiaries ages 19 to 64 who apply for coverage or who are enrolled through an Affordable Care Act expansion group to work at least 80 hours per month. Adults may be exempt if they have dependent children or other qualifying circumstances such as a medical condition. Notably, the Senate version of the bill proposed stricter limits on exemptions for parents, limiting it to those with dependent children ages 14 and under. The proposed Medicaid changes would also require states to conduct eligibility redeterminations for coverage every six months, rather than every 12 months based on current policy. About 7.8 million people could become uninsured by 2034 due to Medicaid cuts, the CBO has projected, based on the House bill. — Lorie Konish Both Senate and House versions of the "big beautiful" bill propose cuts to food assistance through the Supplemental Nutrition Assistance Program, or SNAP, formerly known as food stamps. The cuts in the Senate bill may ultimately affect more than 40 million people, according to the Center on Budget and Policy Priorities. That includes about 16 million children, 8 million seniors and 4 million non-elderly adults with disabilities, among others, according to CBPP, a nonpartisan research and policy institute. Many states would be required to pay a percentage for food benefits to make up for the federal funding cuts. If they cannot make up for the funding losses, that could result in cuts to SNAP benefits or states opting out of the program altogether, according to CBPP. The Senate proposal also seeks to expand existing work requirements to include adults ages 55 to 64 and parents with children 14 and over. Based on current rules, most individuals cannot receive benefits for more than three months out of every three years unless they work at least 20 hours per week or qualify for an exemption. For about 600,000 low-income households, food benefits could be cut by an average of $100 per month, according to CBPP. — Lorie Konish The Senate's version of Trump's budget bill also included a new savings account for children with a one-time deposit of $1,000 from the federal government for those born in 2024 through 2028. 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The bill would also nix the unemployment deferment and economic hardship deferment, both of which student loan borrowers use to pause their payments during periods of financial difficulty. — Jessica Dickler and Annie Nova The Senate bill creates a tax deduction for car loan interest, similar to a provision in the House bill. Certain households would be able to deduct up to $10,000 of annual interest on new auto loans from their taxable income. The tax break would be temporary, lasting from 2025 through 2028. There are some eligibility restrictions. For example, the deduction's value would start to fall for individuals whose annual income exceeds $100,000; the threshold is $200,000 for married couples filing a joint tax return. Cars must also be assembled in the U.S. In practice, the tax benefit is likely to be relatively small, experts said. 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an hour ago
- Miami Herald
Jean Chatzky reveals major 401(k) changes happening now
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Yahoo
2 hours ago
- Yahoo
Is There A 'Best Age' for Major Life Milestones? What Americans Say About Marriage, Kids, Owning A Home, And Retirement
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