General Motors and Hyundai are on the verge of completing a significant deal that would involve the sharing of commercial electric vans and pickup trucks, according to a recent Reuters report. The potential partnership could also lead to broader collaboration on electric vehicle (EV) technologies, including computer chips and high-voltage batteries.
Under the proposed agreement, Hyundai would develop and produce the electric vans, which would initially be imported from South Korea. The vans would be sold under both the Hyundai and General Motors brands. Documents reviewed by Reuters suggest that Hyundai is considering relocating the production of these vans to North America by 2028, potentially through a new facility, modifications to an existing plant, or contracting to a third-party manufacturer.
In return, General Motors would supply Hyundai with its mid-size pickup trucks, currently sold as the Chevrolet Colorado and GMC Canyon. Hyundai has also expressed interest in rebadge versions of GM’s full-size pickups, although GM has not made this option available.
This developing partnership represents an escalation of the cooperation first announced last year when the two automakers signed a memorandum of understanding to collaborate on vehicles, supply chains, and clean-energy technologies. If finalized, the deal could lead to joint purchases or development of EV technologies, enhancing both companies’ positions in the rapidly evolving electric vehicle market.
Both General Motors and Hyundai have confirmed that they continue to explore potential areas of collaboration. General Motors stated, “Both companies continue to explore potential areas of collaboration. We have nothing to announce at this time.” Hyundai similarly said, “The two companies are continuing discussions; nothing has been determined at this time.”
This potential partnership highlights the ongoing shifts in the automotive industry towards electric vehicles and increased collaboration between manufacturers to meet these new challenges.
