Car coupling fever continues with GM and Hyundai teaming up on EVs and hydrogen
GM and Hyundai executives announced a new partnership to codevelop vehicles. | Image: Hyundai
Auto tie-ups are nothing new, but they have become more frequent and wide-ranging in the age of clean energy and alternate fuel sources, as companies seek to spread out the cost and risk of adopting expensive new technologies.
The latest alignment is between General Motors and Hyundai, which are joining forces to codevelop new passenger and commercial vehicles, including EVs and hydrogen fuel cells. They will also explore ways to save money on the acquisition of raw battery materials and steel, among other crucial supplies.
The two companies have signed a memorandum of understanding to “look for ways to leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers...