Hyundai and GM tie the knot

Don't expect a Hyundai Silverado any time soon, but news that Hyundai and General Motors are joining forces has emerged this week and it could lead to some exciting developments.

The two automotive giants signed a Memorandum of Understanding this week, which essentially means the South Korean and US manufacturers will be able to cut costs thanks to joint product development, along with sharing manufacturing and new technology ideas.

Future clean energy technologies appear to be an important element of the partnership, with the duo set co-develop a range of powertrains, including internal combustion engines, electric and hydrogen options for both commercial and passenger vehicles.

Does that mean a GM-built, Hyundai-badged Corvette supercar is just around the corner? Not in the short-term.

But opportunities to co-develop future vehicles are certainly on the cards, while battery raw materials and steel have also been flagged as part of a resource-sharing initiative, in a bid to get a wider range of vehicles and technologies to customers faster.

It should offer a healthy boost to the ambitious emissions targets set by each company, with Hyundai pushing for a battery powered global fleet by 2040 and GM set to go EV-only by 2035.

Signing the paperwork was Hyundai Motor Group Executive Chair Euisun Chung and GM Chief Executive Mary Barra, who said the partnership has the potential to make vehicle development more efficient by driving greater scale and supporting disciplined capital allocation.

“GM and Hyundai have complementary strengths and talented teams,” said Barra.

“Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently.”

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