Seoul: Hyundai Motor Co. and General Motors Co. have unveiled a strategic collaboration to co-develop five new vehicles targeting the American markets. This initiative includes a significant focus on an electric commercial van to be manufactured in the United States, scheduled for production by 2028.
According to Yonhap News Agency, the collaboration will also see the development of four additional vehicles tailored for Central and South American markets. These include a compact sport utility vehicle (SUV), a compact car, a compact pickup, and a midsize pickup. The partnership aims to achieve a combined annual sales target of over 800,000 units once the production reaches full scale.
The strategic partnership was formed in September, with an emphasis on advancing vehicle and clean energy technologies. Hyundai and GM aim to leverage their combined expertise to generate a synergy effect, strengthening their positions in the global automotive market.