Latest news with #TedrosMengiste
Business Insider
4 days ago
- Automotive
- Business Insider
Hyundai just built a $7.6 billion EV factory in Georgia to compete with Tesla and GM — see inside
The Hyundai Motor Group Metaplant America is an all-new $7.6 billion EV factory. HMGMA, located near Savannah, Georgia, opened its doors in March of this year. The factory will be able to build 500,000 EVs and Hybrids for Hyundai, Kia, and Genesis every year. The $7.6 billion Hyundai Motor Group Metaplant America, or HMGMA, is one of the newest and most technologically advanced car factories in the world. The plant, located near Savannah, Georgia, opened its doors in March and will be a key production facility for Hyundai's EVs and PHEVs, as well as those belonging to its Genesis luxury brand and sister company Kia. In a recent interview with Business Insider, Genesis North America COO Tedros Mengiste cited the investment as an example of Hyundai's track record for "visionary and strategic, and long-term thinking." I recently took a behind-the-scenes tour of Hyundai's new megafactory packed with autonomous robots and state-of-the-art tech. The Hyundai Metaplant is situated on a 3,000-acre campus in the south Georgia town of Ellabell. Located just 20 miles from the Port of Savannah, one of the busiest in the US, the plant not only gives Hyundai much-needed manufacturing capacity in the US to avoid import tariffs, but it also affords the company the flexibility to export vehicles abroad. It also gives Hyundai the production footprint to compete against rivals like Tesla, GM, and Rivian, which is also building a new factory in Georgia. Driving up to the factory, it's easy to be wowed by the sheer scale of the sprawling complex. It's Hyundai Group's second car factory in the state. The company also operates a $3.2 billion, 2,200-acre facility in West Point, Georgia, that builds Kia EV and ICE SUVs. I drove to the factory in a new 2026 Hyundai Ioniq 9 EV SUV, which is one of the vehicles assembled at the Metaplant. My tour began in the plant's modern main lobby. Hyundai broke ground on the facility in the fall of 2022 and took just two years to complete construction on the main production buildings. The Metaplant site consists of 11 buildings totalling 7.5 million square feet of space. The Metaplant is a marvel of vertical integration, with the goal of having as many key components, ranging from battery packs to seats, made on-site. Here's a Hyundai XCIENT hydrogen fuel cell semi truck used to transport parts and supplies to the factory. The production process starts in the stamping shop, where sheet metal is cut and stamped into parts that will make up the frame of the car. The sheet metal is supplied by the on-site Hyundai Steel facility. Stamped parts are transported by automated guided vehicles, or AGVs. The stamped metal panels are then stored in these massive racks. The Metaplant was originally expected to produce up to 300,000 electrified vehicles annually. However, Hyundai announced at the plant's grand opening in March that its capacity will be expanded to 500,000 units in the coming years as part of a new $21 billion investment in US manufacturing. Here are parts of the Ioniq 9, Hyundai's new flagship three-row EV SUV. The next part of the tour is the welding shop. Here, the stamped metal pieces are welded together by robot to form the body of the vehicle. The work done by the welding robots is then inspected by the plant's human employees known as Meta Pros. There are employee meeting and break areas located along the inspection and assembly areas. An employee cafeteria with remote ordering capability is located in the main assembly building. In addition to human eyes, the vehicles are also inspected by a pair of Boston Dynamics robot dogs called Spot. In 2021, Hyundai acquired an 80% stake in Boston Dynamics in a deal that valued the company at $1.1 billion. After the inspections are complete, a robot loads the partially assembled vehicles onto a conveyor system. Next stop, the paint shop. Unfortunately, my tour did not get access to the paint shop due to concerns that outside visitors may compromise the quality of the paint application. Here, the painted bodies are married with their battery packs and skateboard chassis. Hyundai Mobis produces the skateboard chassis in a building next door to the general assembly facility. The Metaplant's on-site battery factory, operated in a joint venture with LG, is expected to come online next year. The plant currently sources its batteries from Hyundai's other facilities, including one in North Georgia that's a joint venture with SK. The vehicles' interiors are then assembled by hand. The further along the production process, the more you see human workers on the assembly line. Partially assembled EVs are shuttled through from area to area by the automated robots. The entire facility was immaculately clean, quiet, and felt beautifully choreographed. Assembled vehicles are loaded onto different AGVs that navigate the facility by reading the QR codes embedded into the floor. These AGVs shuttle the vehicles through the plant's various quality control tests. At the end of the assembly line, completed EVs are put through their paces at the on-site test track before being sent to the vehicle preparation center, or VPC, to get them ready for shipping. Vehicles destined for dealerships in the region are put on trucks, while those traveling more than 500 miles are shipped by rail at the Metplant's on-site train terminal.
Associated Press
04-04-2025
- Automotive
- Associated Press
GENESIS CARES INITIATIVE TO MAINTAIN MANUFACTURER'S SUGGESTED RETAIL PRICE FOR THE NEXT TWO MONTHS
FOUNTAIN VALLEY, Calif., April 4, 2025 /PRNewswire/ -- Genesis Motor America today launched the Genesis Cares initiative to maintain the manufacturer's suggested retail price for its entire lineup for the next two months in response to dynamic market conditions and the potential impact of tariffs on the automotive industry. 'At Genesis, we remain committed to doing what's right for our customers and communities,' said José Muñoz, president and CEO, Genesis. 'We know consumers are uncertain about the potential for rising prices and we want to provide them with some stability in the coming months. Our MSRP commitment is just one part of our multifaceted effort to provide great vehicles to American consumers, while also supporting hundreds of thousands of jobs and investing billions of dollars in the most important market for our company.' This initiative ensures that customers who purchase or lease any new Genesis vehicle between today and June 2, 2025, will see no increase in the Manufacturer's Suggested Retail Price (MSRP)i during the protection window. Regardless of market conditions, customers will have peace of mind knowing that MSRP will not increase, providing financial reassurance and the time to make the right choice for their transportation needs. 'At Genesis, we strive to treat every customer as our 'son-nim', or honored guest,' said Tedros Mengiste, chief operating officer of Genesis Motor North America. 'Despite dynamic market conditions, the brand remains firm in its commitment to delivering an elevated sales and ownership experience for U.S. customers.' This past week, Hyundai Motor Group, including Genesis, announced a significant investment of $21 billion in the United States from 2025 to 2028. This investment is focused on expanding manufacturing capabilities, advancing future technologies, and enhancing energy infrastructure in America and will create more than 100,000 direct and indirect job opportunities. This latest U.S. investment builds on the group's existing allocation of approximately $20.5 billion since entering the U.S. market in 1986 that has created more than 570,000 jobs. The group also recently celebrated the grand opening of Hyundai Motor Group Metaplant America. It's a key pillar in the company's $12.6 billion investment in Georgia and is the largest economic development project in the state's history that will create 8,500 direct jobs. At the grand opening, the plant's capacity was announced to increase to 500,000 vehicles, which will include select models of the Genesis lineup. Genesis also currently assembles the GV70 and Electrified GV70 at its manufacturing facility in Alabama. With its strategic approach to production, Genesis is equipped to handle the fluctuating market remaining focused on flexibility and customer experience. The brand will continue to optimize its operations, ensuring its customers receive an elevated purchase experience as son-nim, or honored guests, across all market conditions. Genesis Motor North America Genesis is a new global automotive brand that delivers the highest standards of design, safety, refined performance, and innovation while looking towards a more sustainable future. Drawing from its cultural heritage and distinctly Korean hospitality, Genesis crafts experiences focused on customers as 'son-nim', or honored guests. Genesis Motor North America offers a growing range of award-winning SUV, sedan, and electric models through its network of more than 200 independent U.S. retailers, in addition to its more than 30 Canadian agency distributors. Genesis now counts more than 60 standalone retail facilities across the North American region, with dozens more in development. Consumers can discover the brand through its many retail points, at Genesis House, the brand's flagship space in New York City, or online at
Yahoo
06-03-2025
- Automotive
- Yahoo
GENESIS REVEALS U.S. PRICING FOR NEWLY REDESIGNED GV70 SUV
2026 GV70 starts at an MSRP of $47,985 GV70 features bold new exterior and interior designs, and elevated convenience for a refined experience FOUNTAIN VALLEY, Calif., March 5, 2025 /PRNewswire/ -- Genesis today announced U.S. pricing for the newly redesigned 2026 GV70 SUV. Starting from a manufacturer's suggested retail price (MSRP)* of $47,985, the 2026 GV70 embraces Genesis' "Athletic Elegance" design philosophy by offering consumers the perfect blend of utility and refinement. "GV70 is the most popular Genesis model in North America and the 2026 model year updates bring even more excitement to our SUV lineup," said Tedros Mengiste, chief operating officer of Genesis Motor North America. "With its athletic appearance, updated cabin and elevated driving experience, we look forward to welcoming even more customers into our growing GV70 family." The 2026 GV70's exterior design has been elevated with enhanced details, such as the redesigned G-Matrix Crest Grille and iconic two-line headlamps equipped with micro lens array (MLA) technology. The front end has been enhanced with a bolder skid plate design, creating a robust stance that is complemented by extended air intake grilles, creating a uniquely sporty appearance. The athletic side profile has been accentuated with newly redesigned 19" and 21" wheel options, and the updated rear fascia includes redesigned exhaust tips. The interior of the new GV70 offers high-tech sensibility with an all-new 27-inch OLED display that integrates the gauge cluster and updated infotainment system into a single expansive horizontal layout. Numerous features elevate the in-cabin and driving experience, including enhanced voice recognition controls, improved over-the-air update capabilities, Genesis Digital Key, Smart Key, Terrain Mode, and new standard adjustable interior ambient lighting. The available Bang & Olufsen surround system with Beosonic technology provides rich, immersive sounds. The GV70 comes with a comprehensive suite of available advanced safety and convenience capabilities which include Forward Collision Avoidance Assist, Blind Spot Monitor, Surround View Monitor, Rear Cross Traffic Avoidance Assist, Parking Distance Warning, Highway Drive Assist, and more. The 2026 GV70 comes in two powertrain options: a 2.5L turbocharged inline four cylinder with all wheel drive capable of 300 horsepower, and a 3.5L twin-turbo V6 with all wheel drive delivering 375 horsepower. At the start of sales, GV70 will come in nine different exterior colors, including the new Ceres Blue, which was inspired by the dwarf planet between the orbits of Mars and Jupiter. Bering Blue, which is a solid metallic color with a subtle combination of cool blue and gray that is inspired by the icy Bering Sea, will be available at a later date. Four Nappa leather interior color options with new available sport orange stitching, led by Ultramarine Blue, provide a robust set of choices for customers. The newly redesigned 2026 GV70 will arrive at retailers in the coming weeks. Customers should contact their local Genesis retailer and visit for more information. 2026 GV70 Pricing & Packaging Summary GV70 2.5T AWDMSRP: $47,985 (excluding $1,450 freight) STANDARD FEATURES: 2.5L Inline 4 Turbo GDI (300 HP / 311 lb.-ft) 8-speed Automatic Transmission Electronic Parking Brake with Auto Hold Monobloc Front & Rear Disc Brakes Drive Mode Select Terrain Mode R-MDPS with Variable Gear Ratio Steering Forward Collision-Avoidance Assist Lane Keeping Assist Lane Following Assist Driver Attention Warning Blind-Spot Collision Avoidance-Assist Rear Cross-Traffic Collision Avoidance-Assist Parking Distance Warning – Front & Rear Rearview Camera Safe Exit Assist Rear Occupant Alert Forward Attention Warning 8 Airbags Tire Pressure Monitoring System & Temp Spare 19-inch Alloy Wheels Power Hands-Free Smart Liftgate with Auto Open Heated Outside Mirrors with Turn-Signal Indicator High Beam Assist MLA (Micro Lens Array) Headlamp with LED Matrix Capability Towing Pre-Wiring Leatherette Seating Surfaces Power Driver's Seat with 4-Way Power Lumbar Power Front Passenger Seat Heated Front Seats Smart Cruise Control Intelligent Speed Limit Assist Highway Driving Assist Adjustable Interior Ambient Lighting 60/40 2nd Row Folding Seats Rear Door Lock Sensor Auto-Dimming Inside Mirror with HomeLink® Touch Type Dual Zone Automatic Climate Control Metal Door Sill Plates Proximity Key with Push Button Start USB-C Port/12V Port 27-inch OLED Instrument Cluster & Navigation System with AM/FM/HD Radio™ SiriusXM® Radio w/ 90-day trial subscription; Not Available in AK & HI Wireless Android Auto™ & Apple CarPlay® Genesis Connected Services Fingerprint Authentication System Bluetooth® Hands-free Phone & Audio Streaming System Premium Audio with 9 Speakers Wi-Fi Hotspot Over-the-Air with ECU Update Capability GV70 2.5T SELECT AWDMSRP: $50,885 (excluding $1,450 freight) INCLUDES 2.5T AWD CONTENT PLUS: Panoramic Sunroof Aluminum Trim Wireless Phone Charger Power Tilt & Telescoping Steering Wheel Integrated Memory Driver Seat with Smart Posture Care Power Folding Mirrors with Genesis Logo Lamp Passenger Walk-In Device GV70 2.5T ADVANCED AWDMSRP: $55,435 (excluding $1,450 freight) INCLUDES 2.5T SELECT AWD CONTENT PLUS: Bang & Olufsen® Premium Audio Leather Seating Surfaces Ventilated Front Seats Surround View Monitor / Blind-Spot View Monitor Parking Distance Warning – Front / Rear / Side Parking Collision-Avoidance Assist – Rear Advanced Rear Occupant Alert Backlit Trim Front Passenger Seat 4-Way Power Lumbar Heated Steering Wheel GV70 2.5T SPORT PRESTIGE AWDMSRP: $58,795 (excluding $1,450 freight) INCLUDES 2.5T ADVANCED AWD CONTENT PLUS: Sport Appearance / 21-inch Sport Alloy Wheels Leatherette Wrapped Upper Instrument Panel Aluminum Trim Power Cushion Extension, Bolster & Ergo Motion (Driver) 3-Zone Climate Control Genesis Digital Key 2 Alloy Pedals 2nd Row AC Power Outlet GV70 3.5T SPORT ADVANCED AWDMSRP: $63,415 (excluding $1,450 freight) STANDARD FEATURES: 3.5L Twin-Turbo V6 (375 HP / 391 lb.-ft) 8-speed Automatic Transmission Electronically Controlled Suspension with Road Preview Electronic Parking Brake with Auto Hold Drive Mode Select Terrain Mode R-MDPS with Variable Gear Ratio Steering Forward Collision-Avoidance Assist Lane Keeping Assist Lane Following Assist Driver Attention Warning Blind-Spot Collision Avoidance-Assist Rear Cross-Traffic Collision Avoidance Assist Parking Collision-Avoidance Assist – Rear Parking Distance Warning – Front / Side / Rear Safe Exit Assist Advanced Rear Occupant Alert Forward Attention Warning 8 Airbags Tire Pressure Monitoring System & Temp Spare Rear Door Lock Sensor Sport Appearance 19-inch Sport Alloy Wheels Panoramic Sunroof Power Hands-Free Smart Liftgate with Auto Open Power Folding Mirrors with Genesis Logo Lamp High Beam Assist MLA (Micro Lens Array) Headlamp with LED Matrix Capability Towing Pre-Wiring Leather Seating Surfaces Leatherette Wrapped Upper Instrument Panel Backlit Trim Power Front Seats with 4-Way Power Lumbar Power Cushion Extension, Bolster & Ergo Motion (Driver) Power Front Passenger Seat Heated and Ventilated Front Seats Heated Steering Wheel Highway Driving Assist 2 Rearview Camera Surround View Monitor / Blind-Spot View Monitor Smart Cruise Control Intelligent Speed Limit Assist Adjustable Interior Ambient Lighting Passenger Walk-In Device 60/40 2nd Row Folding Seats Auto-Dimming Inside Mirror with HomeLink® Touch Type Dual Zone Automatic Climate Control Metal Door Sill Plates Proximity Key with Push Button Start Power Tilt & Telescoping Steering Wheel Integrated Memory with Smart Posture Care 27-inch OLED Instrument Cluster & Navigation System with AM/FM/HD Radio™ SiriusXM® Radio with 90-day trial subscription; Not Available in AK & HI Bang & Olufsen® Premium Audio Genesis Digital Key 2 Wireless Android Auto™ & Apple CarPlay® Genesis Connected Services Wireless Phone Charger 2nd Row AC Power Outlet Fingerprint Authentication System Bluetooth® Hands-free Phone & Audio Streaming System Wi-Fi Hotspot Over-the-Air with ECU Update Capability GV70 3.5T SPORT PRESTIGE AWDMSRP: $70,095 (excluding $1,450 freight) INCLUDES 3.5T SPORT ADVANCED AWD CONTENT PLUS: 21" Alloy Wheels with All-Season tires Head-Up Display 3-Zone Climate Control Remote Smart Parking Assist 2 Carbon Fiber Trim Heated 2nd Row Seats (Outboard) Manual Rear Door Shades Nappa Leather Seating Surfaces Microfiber Suede Headliner Acoustic Rear Door Glass Electronic Limited Slip Differential Parking Collision Avoidance Assist – Front / Side / Rear Genesis Motor North America Genesis is a new global automotive brand that delivers the highest standards of design, safety, refined performance, and innovation while looking towards a more sustainable future. Drawing from its cultural heritage and distinctly Korean hospitality, Genesis crafts experiences focused on customers as "son-nim", or honored guests. Genesis Motor North America offers a growing range of award-winning SUV, sedan, and electric models through its network of more than 200 independent U.S. retailers, in addition to its more than 30 Canadian agency distributors. Genesis now counts more than 60 standalone retail facilities across the North American region, with dozens more in development. Consumers can discover the brand through its many retail points, at Genesis House, the brand's flagship space in New York City, or online at Please visit our media site for the latest news at (United States) and (Canada). *MSRP excludes tax, title, license and destination charges. Destination charges may vary. Retailer sets actual price. Vehicles displayed may contain optional equipment at additional cost. View original content to download multimedia: SOURCE Genesis Motor America Sign in to access your portfolio
Yahoo
19-02-2025
- Automotive
- Yahoo
GENESIS DONATES $300,000 TO FIRST TEE, GIRLS ON THE RUN, AND U.S. SOCCER FOUNDATION AT 2025 GENESIS INVITATIONAL
Genesis champions youth sports with $100,000 donations to First Tee, Girls on the Run, and U.S. Soccer Foundation Each donation includes a portion for community recovery efforts following the Southern California wildfires SAN DIEGO, Feb. 19, 2025 /PRNewswire/ -- To commemorate the 2025 Genesis Invitational, Genesis donated a total of $300,000 to three organizations empowering young athletes. First Tee, Girls on the Run, and U.S. Soccer Foundation each received $100,000 in support of expanding access to youth sports. A portion of each donation will aid recovery from the wildfires in Southern California, reinforcing Genesis' commitment to both sports accessibility and community resilience. "At Genesis, we are committed to not only developing world-class vehicles, but also giving back to our communities," said Tedros Mengiste, chief operating officer, Genesis Motor North America. "We are proud to continue supporting organizations that inspire and empower the next generation through sports. This year, we are especially grateful that our donations will also help rebuild Southern California—the place we call home." For the fourth consecutive year, Genesis is partnering with nonprofit organizations that support youth nationwide through high-quality sports programs designed to foster valuable life skills, such as commitment, resilience, and teamwork. The donations are made through Genesis Gives, a corporate social responsibility initiative from Genesis Motor America, which aims to improve access to youth sports in under-resourced communities. Some of this year's funds will go toward restoring and sustaining local sports programs in Southern California that were impacted by the wildfires. "We are grateful to Genesis for its ongoing support of First Tee and our efforts to provide youth development programming to more than 3 million kids annually," said Greg McLaughlin, chief executive officer, First Tee. "Like Genesis, First Tee has deep roots in Los Angeles, and we thank Genesis for helping our Chapters in the area as they recover from last month's devastating wildfires. This donation from Genesis will truly make a difference for these First Tee families." "We are incredibly grateful for the generous support from Genesis Gives, which will allow us to expand access to our life-changing programs for girls across the country," said Elizabeth Kunz, chief executive officer, Girls on the Run International. "Now more than ever, girls need a supportive community where they can build confidence, resilience, and a sense of belonging, and this funding will help ensure that no girl is left behind." "We are thrilled to continue our partnership with Genesis and continue to provide access to proven soccer programs and create safe places to play for children in under-resourced communities that improve their health and well-being," said Ed Foster-Simeon, president and chief executive officer, U.S. Soccer Foundation. The following organizations each received a donation of $100,000: First Tee: First Tee builds game changers by empowering kids and teens to be the best version of themselves. By integrating the game of golf with character-building, First Tee creates learning experiences that uncover young athletes' inner strength, self-confidence, and resilience. The donation will provide more youth with opportunities to develop golf and life skills at First Tee chapters, while also aiding the recovery of First Tee – Greater Pasadena, which lost most of its equipment in the recent wildfires. To date, Genesis has donated a cumulative $400,000 to First Tee. Girls on the Run: Girls on the Run inspires girls to be joyful, healthy, and confident through a fun, experience-based curriculum that creatively integrates running. Programming for 3rd-8th graders empowers participants to recognize their individual strengths while building a sense of connection in a team setting. This donation will help widen access and ensure long-term sustainability of Girls on the Run initiatives and local councils offering programs at schools and community sites. A portion of the funding will directly assist Southern California councils recovering from the impact of recent wildfires, providing them with the necessary resources to continue inspiring and uplifting the next generation of girls. To date, Genesis has donated a cumulative $350,000 to Girls on the Run. U.S. Soccer Foundation: U.S. Soccer Foundation provides underserved communities with access to innovative play spaces and evidence-based soccer programs that instill hope, foster well-being, and help youth achieve their fullest potential. This year's donation will support the creation of mini-pitches in Southern California and Atlanta to provide safer places for young people to play the game right in the communities where they live and go to school. To date, Genesis has donated a cumulative $350,000 to U.S. Soccer Foundation. First Tee The mission of First Tee is to impact the lives of young people by providing educational programs that build character and instill life-enhancing values through the game of golf. First Tee is a 501(c)(3) nonprofit youth development organization that is supported by the PGA TOUR and many other organizations, foundations, companies and individuals. Over more than 27 years, First Tee has reached millions of young people through its network of 150 Chapters, 12,000 schools and 2,000 youth centers. Headquartered in Ponte Vedra Beach, Florida, USA, programs are delivered in all 50 United States and select international locations. Girls on the Run Girls on the Run International (GOTRI) creates and offers after-school empowerment programs designed for third- to eighth-grade girls. The national nonprofit helps participants build confidence, increase their level of physical activity, and learn essential life skills such as managing emotions, resolving conflicts, and forming friendships through the innovative integration of fun physical activities, engaging lessons, and impactful community projects. The research-based curriculum led by trained volunteer coaches explores core topics relevant to 8- to 13-year-old girls, including understanding emotions, fostering friendships, expressing empathy, and standing up for ourselves. The coaches and curriculum create a sense of belonging for all participants and meet the vital needs of girls today. The program culminates in a Community Impact Project and a celebratory 5K. Since it was founded in 1996, this national movement has served more than 2.5 million girls in all 50 states and Canada. Learn more at U.S. Soccer Foundation As the national leader for sports-based youth development in under-resourced areas, the U.S. Soccer Foundation is on a mission to let soccer do what it does: change absolutely everything. Founded as a legacy of the 1994 FIFA World Cup, the Foundation provides underserved communities access to innovative play spaces and evidence-based soccer programs that instill hope, foster well-being, and help youth achieve their fullest potential. Headquartered in Washington, D.C., the U.S. Soccer Foundation is a 501(c)(3) organization. For more information visit or follow us on LinkedIn and Instagram. Genesis Gives Genesis Gives is a corporate social responsibility initiative from Genesis Motor America. Expanding on the brand's commitment to the highest standards of performance and its athletic elegance design identity, Genesis Gives supports nonprofit organizations with the goal of improving access to, and performance in, youth sports and STEAM education in under-resourced communities. Since 2022, Genesis has donated nearly $1.8 million to support communities across the country. For more information, visit Genesis Motor North America Genesis is a new global automotive brand that delivers the highest standards of design, safety, refined performance, and innovation while looking towards a more sustainable future. Drawing from its cultural heritage and distinctly Korean hospitality, Genesis crafts experiences focused on customers as "son-nim", or honored guests. Genesis Motor North America offers a growing range of award-winning SUV, sedan, and electric models through its network of more than 200 independent U.S. retailers, in addition to its more than 30 Canadian agency distributors. Genesis now counts more than 60 standalone retail facilities across the North American region, with dozens more in development. Consumers can discover the brand through its many retail points, at Genesis House, the brand's flagship space in New York City, or online at Please visit our media site for the latest news at (United States) and (Canada). View original content to download multimedia: SOURCE Genesis Motor America Sign in to access your portfolio
