New partnership for cheaper production

Development and production Hyundai and General Motors explore cooperation

2024-09-16 From Andreas Wehner | Translated by AI 1 min Reading Time

The two car manufacturers from South Korea and the USA are examining joint projects in development, production and procurement. The aim: to bring new products to market faster and more cost-effectively.

Marry Barra and Euisun Chung(Image: Hyundai) — Marry Barra and Euisun Chung
(Image: Hyundai)

The South Korean car manufacturer Hyundai and the US manufacturer General Motors are considering a collaboration. The two companies have signed an agreement to examine cooperation in important strategic areas, according to a press release issued on Thursday (September 12).

The joint development and production of passenger and commercial vehicles, combustion engines and clean energy, electric and hydrogen technologies is conceivable. The aims of a possible cooperation are to reduce costs and accelerate the development of vehicles and technologies. The two manufacturers also want to examine the possibility of joint procurement of battery raw materials, steel and other areas.

"GM and Hyundai have complementary strengths and talented teams. Our goal is to unleash the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently," said GM CEO Mary Barra.

"This partnership will enable Hyundai Motor and GM to evaluate opportunities to improve competitiveness in key markets and vehicle segments, increase cost efficiency and create greater customer value through our combined expertise and innovative technologies," said Hyundai CEO Euisun Chung.

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