Hyundai and GM to Collaborate on Vehicle Development and Hydrogen Initiatives

TapTechNews September 12th news, Hyundai Motor and General Motors of the United States signed a Memorandum of Understanding (MOU) on promoting comprehensive cooperation in New York, the United States, and agreed to jointly develop and produce passenger cars and commercial vehicles. The potential areas of cooperation between the two sides include the joint development and production of passenger cars and commercial vehicles, internal combustion engines, new energy, electric and hydrogen energy technologies, and will also explore ways to reduce the procurement cost of key supplies such as battery raw materials and steel.

The two companies said that this cooperation will'seek ways to leverage their complementary scales and advantages to reduce costs and provide customers with a wider range of vehicles and technologies more quickly.'

According to TapTechNews, these two companies are among the most active in promoting electrification in the North American market. General Motors has several brands offering a series of electric vehicles, including Chevrolet Silverado, Equinox, Blazer, Cadillac Lyriq, Hummer and GMC Sierra. Meanwhile, Hyundai Motor and its sister company Kia have quietly become giants in the electric vehicle field with their popular Hyundai Ioniq 5 and 6 and Kia EV6 and EV9.

The two companies are also actively involved in building their respective hydrogen businesses. General Motors has a fuel cell production plant jointly owned with Honda, and Hyundai Motor said hydrogen will play a 'prominent role' in its efforts to achieve carbon neutrality.