Written by Cláudio Afonso | LinkedIn | X
General Motors announced Thursday it signed an agreement with Hyundai Motor Company aiming to reduce costs and increase the speed of the development of new vehicles.
Upcoming products will include passenger and commercial vehicles powered by internal combustion engines, clean energy, electric, and hydrogen technologies.
The agreement was signed on Thursday by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. The automakers said they will analyze opportunities for “combined sourcing in areas” including battery raw materials, steel, and others.
In the second quarter, General Motors delivered 696,086 vehicles in the U.S., up 0.6 per cent year-over-year while first half of the year deliveries reached 1,290,319 vehicles in the U.S., down 0.4 per cent from 2023.
GM Chair and CEO Mary Barra said the goal from both parties is to ” to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently”.
The automakers said the evaluation of opportunities and the progression toward binding agreements will “begin immediately”.
Written by Cláudio Afonso | LinkedIn | X
