Hyundai Motor Company and General Motors announced plans for their first five co-developed vehicles, marking a significant milestone in their previously announced strategic collaboration.
The two companies will co-develop four vehicles for the Central and South American markets, including a compact SUV, a car, a pick-up, and a mid-size pick-up, all of which will offer the flexibility to use either internal combustion or hybrid propulsion systems. Hyundai and GM will also co-develop an electric commercial van for the North American market.
Hyundai and GM expect sales of the co-developed vehicles to exceed 800,000 units per year once production is fully scaled.
GM will lead the development of the mid-size truck platform, while Hyundai will lead on the compact vehicle and electric van.
The two companies will share common platforms and develop unique interiors and exteriors consistent with their respective brands.
Design and engineering work is underway on the new vehicles for the Central and South American markets, which will launch in 2028. The electric commercial van is expected to be manufactured in the U.S. as early as 2028.
“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 José Muñoz, President and CEO of Hyundai Motor Company. “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, Senior Vice President and Global Chief Procurement and Supply Chain Officer, said the vehicles announced today were targeted at the most significant 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 lower cost,” Amin said. “These first co-developed vehicles demonstrate how GM and Hyundai will leverage our complementary strengths and combined scale.”
The two companies also plan to initiate joint sourcing initiatives in North and South America for materials, transportation, and logistics. Further areas for potential joint operations include raw materials, components, and complex systems,
Hyundai Motor and GM also agreed to explore collaboration on low-carbon emissions steel as part of their commitment to sustainable manufacturing.
Following the signing of a framework agreement in September 2024, the companies continue to assess additional joint vehicle development programs for global markets, as well as collaboration opportunities across propulsion systems, including internal combustion engines, hybrid, battery electric, and hydrogen fuel cell technologies.