Hyundai Motor and General Motors (GM) have recently announced a groundbreaking agreement to co-develop five new vehicle models specifically for markets in the Americas. This collaboration marks a significant milestone in their strategic partnership as they gear up to face the increasing competition in the global automotive industry.
The five co-developed models will cater to markets in Central and South America, with offerings including a compact SUV, passenger car, pick-up truck, and a mid-size pick-up. These models will be available in both internal combustion and hybrid powertrain options. Additionally, a battery-powered commercial van will be introduced in North American markets.
While the platforms will be shared between the two companies, Hyundai and GM will focus on developing unique interiors and exteriors that align with their respective brand identities. It is estimated that the combined sales of these models will surpass 800,000 units annually once production is fully ramped up.
GM will lead the development of the mid-size truck platform, while Hyundai will take the reins on the compact models and the electric van. Design and engineering work for the new models targeted at Central and South American markets is already in progress, with the first launch scheduled for 2028. The production of the battery-powered electric commercial van will commence in the US in the same year.
José Muñoz, President and CEO of Hyundai Motor Company, expressed his enthusiasm for the collaboration, emphasizing the value and choice it will bring to customers across various vehicle segments and markets. Shilpan Amin, GM’s Head of global procurement, highlighted how the partnership will expand options for customers faster and at a lower cost by leveraging their combined strengths and scale.
In addition to vehicle development, Hyundai and GM are also planning joint sourcing partnerships for raw materials, components, systems, transportation, and logistics in North and South America. They are exploring opportunities for collaboration in low-carbon emissions steel sourcing to support sustainable manufacturing practices.
As part of the framework agreement signed in September 2024, the two companies will continue to explore additional joint vehicle development programs for global markets and collaborate on propulsion systems, including internal combustion engines, hybrid, battery electric, and hydrogen fuel cell technologies.
The collaboration between Hyundai and GM represents a significant step towards innovation and sustainability in the automotive industry. By combining their expertise and resources, they aim to deliver high-quality, technologically advanced vehicles that meet the evolving needs of customers in the Americas and beyond.
