Seoul: Hyundai Motor Co. and General Motors (GM) Co. on Thursday announced a plan to co-develop five new vehicles for the Americas, including a U.S.-built electric commercial van, as part of their strategic partnership.
According to Yonhap News Agency, the lineup includes four vehicles aimed at Central and South American markets-a compact sport utility vehicle (SUV), a compact car, a compact pickup, and a midsize pickup. An electric commercial van for the North American market will also be developed, with U.S. production scheduled to begin as early as 2028.
The two automakers expect the co-developed models to reach combined annual sales of over 800,000 units once full-scale production is achieved. The companies formed a global alliance in September, agreeing to collaborate in key strategic areas, including vehicle and clean energy technologies, to create a synergy effect in the global market.
GM will lead the development of the midsize pickup platform, while Hyundai Motor will lead in the compact vehicle and electric commercial van. The two companies will share common platforms and develop unique interiors and exteriors consistent with their respective brands.
"Hyundai's strategic collaboration with GM will help us continue to deliver value and choice to our customers across multiple vehicle segments and markets," said Jose Munoz, chief executive officer (CEO) of Hyundai Motor. He added, "Our combined scale in North and South America helps us to more efficiently provide our customers more of what they want-beautifully designed, high-quality, safety-focused vehicles with technology they appreciate."
Shilpan Amin, GM's senior vice president and global chief procurement and supply chain officer, said the vehicles will target the largest segments in the Central and South American markets, as well as the commercial segment in North America. "By partnering together, GM and Hyundai will bring more choice to our customers faster and at a lower cost," Amin said. "These first co-developed vehicles clearly demonstrate how GM and Hyundai will leverage our complementary strengths and combined scale."
The two companies are also planning joint sourcing initiatives in North and South America for materials, transport, and logistics.