Allegiances and alliances aren’t new in the automotive industry. There’s the Renault Nissan Mitsubishi Alliance, and the Stellantis group that combines some of Europe and America’s biggest automakers, as prime examples.
Some automotive partnerships aren’t expected. For instance, Toyota, Mazda, and Subaru teaming up to save the combustion engine and Honda, Nissan, and Mitsubishi collaborating for EV development.
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But one we didn’t see coming is Hyundai and General Motors. The two giants recently signed a Memorandum of Understanding to explore the possibility of developing and manufacturing vehicles together. The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra.
“This partnership will enable Hyundai Motor and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies,” said Chung.
“GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently,” added Barra.
With its pool of resources, both companies aim to jointly develop and build both passenger and commercial vehicles. Not only that, the two would like to collaborate on internal combustion engines and clean-energy, electric and hydrogen technologies.
Aside from combining research and development efforts, the partnership seeks to streamline costs and bring a wider range of vehicles and technologies to customers faster. Given the current pace of the automotive industry at the moment, both Hyundai and General Motors could greatly benefit from this move.
