Hyundai and General Motors to Collaborate on Vehicle Development, Supply Chains, and Clean Energy Technologies
Hyundai and General Motors (GM) have announced a collaborative effort aimed at developing new vehicles, streamlining supply chains, and advancing clean energy technologies. The partnership is designed to reduce costs and accelerate production amid increasing pressure on global automakers to innovate in the electric vehicle (EV) and battery space due to strict emissions regulations worldwide.
The two automotive giants will focus on a range of vehicle technologies, including electric, hydrogen, clean-energy, and internal combustion engines. This partnership comes as both companies face growing competition from Chinese automakers, particularly in the EV sector, where lower-cost models are being exported to alleviate an oversupply issue in China.
Hyundai’s Executive Chair Euisun Chung and GM’s Chair and CEO Mary Barra signed a non-binding framework agreement on Thursday, signalling their intent to collaborate on joint product development and manufacturing. In a statement, Barra emphasized the goal of the partnership: “Our aim is to leverage the scale and creativity of both companies to deliver competitive vehicles to customers faster and more efficiently.”
Hyundai, the world’s third-largest automaker, and GM, currently America’s top carmaker, are exploring ways to enhance their competitiveness in key markets, boost cost efficiencies, and provide greater value to customers.
This collaboration marks the latest in a series of partnerships across the automotive industry, as carmakers seek to strengthen their positions in an increasingly competitive global market. Similar partnerships include Nissan and Renault’s EV-focused alliance, as well as GM and Honda’s joint efforts with Cruise to develop a driverless ride-hailing service in Japan.
