Hyundai to collaborate with GM

MANILA: Hyundai Motor Company will collaborate with General Motors (GM) across key strategic areas.

Per the South Korean car brand, it will team up with GM to study and explore joint product development, manufacturing, and future clean energy technologies.

“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,” Hyundai Motor Group Executive Chair Euisun Chung said.

By leveraging their complementary scale and strengths the two companies look to reduce costs and bring a wider range of vehicles and technologies to customers faster.

According to the Seoul-based brand, some potential collaboration projects include co-development and production of passenger and commercial vehicles, internal combustion engines, as well as clean-energy, electric, and hydrogen technologies.

In addition, Hyundai and GM will review opportunities for combined sourcing in areas such as battery raw materials, steel, and other areas.

“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,” GM Chair and Chief Executive Officer Mary Barra noted.

The two companies signed a non-binding memorandum of understanding and will proceed to assess opportunities and progress towards binding agreements will begin thereafter.

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