GM and Hyundai Explore Joint Vehicle Development
General Motors and Hyundai Motor Co. have agreed to explore potential collaboration on vehicle development and supply chain efficiencies. The partnership aims to reduce costs and accelerate the delivery of a wider range of vehicles to customers.
| Score | Value |
|---|---|
Scale | 7 |
Novelty | 5 |
Positivity | 6 |
Reliability | 8 |
Actionability | 2 |
Society | 6 |
Journalism | 3 |
Highlights
- General Motors and Hyundai Motor Co. have signed a non-binding memorandum of understanding to explore collaboration on vehicle development.
- The collaboration will focus on co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy technologies.
- Both companies aim to reduce costs and bring a wider range of vehicles to customers faster.
- The agreement was signed by GM Chair and CEO Mary Barra and Hyundai Motor Group Executive Chair Euisun Chung.
- The partnership comes as automakers face increased competition and high capital costs in developing electric vehicles.