General Motors and Hyundai have announced a collaboration to jointly develop products, manufacturing processes, and innovations in electric and hydrogen technologies. This partnership, outlined in a memorandum of understanding, aims to leverage the strengths and expertise of both automakers to accelerate the introduction of competitive vehicles in the market. Mary Barra, the Chief Executive of General Motors, expressed optimism about the partnership, highlighting the combined strengths and talent of the two companies. Both General Motors and Hyundai have ambitious plans to phase out gas-powered vehicles, with GM targeting 2035 and Hyundai aiming for 2040. General Motors plans to launch 30 new electric models by the end of the decade, while Hyundai aims to introduce 17 battery electric models in the same period, with a goal of delivering 2 million EVs by then. Hyundai currently leads in the electric vehicle market with 19 different EV models, including hybrids, battery electrics, and hydrogen fuel cell vehicles. On the other hand, General Motors aims to have 10 electric models by the end of 2024. Notably, both companies are among the three automakers producing hydrogen fuel cell vehicles. General Motors' Chevy Bolt and Hyundai's Ioniq5 are popular electric vehicle models in the US. The collaboration between GM and Hyundai is expected to result in cost savings and accelerated innovation, allowing for a faster rollout of a diverse range of vehicles and technologies to meet customer demands. The joint efforts will also explore synergies in raw material sourcing for steel and battery components, streamlining the supply chain for both companies.