General Motors And Hyundai Commit To Each Other

by TTAC News Staff

Published: September 12th, 2024

Mary Barra and Euisun Chung sign the memorandum

General Motors and Hyundai have announced an agreement to explore potential future collaborations in strategic areas such as vehicle development, supply chain solutions, and clean-energy technologies.

The two automakers signed a non-binding memorandum of understanding aimed at leveraging their combined strengths to reduce costs and bring new technologies and vehicles to market more quickly.

This potential collaboration could include co-developing electric and hydrogen technologies, sharing resources for battery raw materials, and working on the production of passenger and commercial vehicles. Both companies are aggressively ramping up electric vehicle production in response to growing global competition and stringent emissions regulations. The partnership could also address challenges in sourcing steel and other critical materials.

GM's Ultium battery platform

The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, with both leaders emphasizing the importance of combining their companies' expertise to deliver more competitive vehicles and technologies to consumers. This collaboration is significant as both GM and Hyundai have announced ambitious plans to scale up their EV production and navigate the complexities of global supply chains.

Notably, this move follows GM's scrapped partnership with Honda in October 2023, which aimed to develop affordable EVs—GM's affordable Ultium vehicle strategy reportedly hinged on Honda's supplemental volume, it's unclear if this signals a pivot for the Ultium platform.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

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Bd2 on Sep 13, 2024
Not surprisingly, Anal (posing as me) has filled the comments section with his usual drivel. As for the topic at hand, the area where automakers can benefit the most is with regard to BEVs, but both gm and HMG already have their own dedicated BEV platform (in fact, HMG has finished developing their 2G BEV platform), so no real benefit there. Guess they can cooperate on the supply chain/infrastructure for BEVs.

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Rochester on Sep 13, 2024
"This article was co-written using AI." What the heck? This is shameful.

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