GM and Hyundai Join Forces for Future Clean Energy Technologies
Key Ideas
- GM and Hyundai sign an agreement to explore collaboration in various strategic areas to enhance efficiencies and competitiveness.
- The collaboration may involve co-development and production of vehicles, internal combustion engines, and clean-energy technologies, including hydrogen.
- Both companies aim to leverage their strengths to deliver competitive vehicles faster and more efficiently, driving cost efficiencies and value to customers.
- The non-binding MOU signals the beginning of assessment for future collaboration on vehicles, supply chain, and clean-energy technologies.
General Motors and Hyundai Motor Company have signed an agreement to explore collaboration in key strategic areas. The focus will be on reducing costs, bringing a wider range of vehicles and technologies to customers faster, and enhancing efficiencies and competitiveness. Projects may include co-development and production of various vehicles, internal combustion engines, and clean-energy technologies like hydrogen. Both companies see the partnership as an opportunity to unlock scale and creativity for more competitive vehicles and to drive cost efficiencies. The non-binding Memorandum of Understanding signed by GM and Hyundai executives paves the way for assessing opportunities and progressing towards binding agreements. General Motors is pioneering an all-electric future, with a strong emphasis on their battery platform, while Hyundai is committed to sustainable mobility solutions, including zero-emission vehicles with hydrogen fuel cell and EV technologies.