Reports indicate that a potential deal between Hyundai and General Motors (GM) could see Hyundai selling a rebadged version of the Chevrolet Colorado pickup truck. The deal involves an exchange of vehicles, with GM potentially supplying Hyundai with pickups in exchange for electric vans.
According to a report from Reuters, the two companies are in advanced discussions. The agreement would have Hyundai developing and producing two commercial electric vans for both itself and GM. In return, GM would supply Hyundai with its mid-size pickup trucks, specifically the Chevy Colorado and GMC Canyon, for sale in North America. Sources suggest that Hyundai also expressed interest in a rebadged version of GM’s full-size pickups, but that option is not currently on the table.
Initially, the electric vans would be imported from South Korea. However, according to documents reviewed by Reuters, there are plans for Hyundai to possibly move the development of the vans to North America by 2028. This could involve a new facility, adding production to an existing plant, or contracting with a third-party manufacturer.
This potential partnership is a step up from a memorandum of understanding signed by the companies last year, concerning collaboration on vehicles, supply chains, and clean-energy technologies. If this deal comes to fruition, it could result in a larger partnership that focuses on joint purchases or development of EV technology, like high-voltage battery systems and computer chips.
Both companies have been somewhat guarded in their public statements. GM stated that they “continue to explore potential areas of collaboration” but had nothing to announce at this time. Hyundai acknowledged that “the two companies are continuing discussions; nothing has been determined at this time.”
