It’s the automotive equivalent of a super team – like Lewis Hamilton joining Ferrari in 2025. They’re already two of the world’s largest car companies independently, but now General Motors and Hyundai Motor Company have agreed to work together on a range of potential projects.
GM chair and CEO Mary Barra and Hyundai executive chair Euisun Chung signed a Memorandum of Understanding that will cover a wide array of possible joint ventures. Amongst the options publicly announced by the two companies are co-developed passenger and commercial vehicles as well as new powertrains.
Crucially, the public statement says the two companies will work together not only on electric and hydrogen technology but also internal combustion engines; which suggests petrol and diesel models from both brands are here to stay for the foreseeable future.
The two companies will also work together to source raw materials, such as steel and resources for battery production – which should ultimately lead to more affordable new vehicles.
“GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently,” said GM boss, Barra.
Chung added: “This partnership will enable Hyundai Motor and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies.”
This isn’t the first major team up of recent years, Ford and Volkswagen have a partnership for developing commercial vehicles and EVs, while Toyota has partnered with both BMW and Subaru for its sports car projects.
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