Hyundai Motor (005380.KS) said on Monday it will hike wages for nonunion production workers at its Alabama factory by 25% by 2028, weeks after the United Auto Workers won new contracts with the Detroit Three automakers.
The Korean automaker joins Toyota Motor (7203.T) and Honda Motor (7267.T) in raising U.S. factory wages after the UAW won a new contract with General Motors (GM.N), Ford Motor (F.N) and Chrysler parent Stellantis (STLAM.MI) that will result wage increases of 25% through 2028. The Detroit Three wage hikes amount to 33% when expected cost-of-living adjustments are factored in.
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