Little news about the Hyundai-General Motors collaboration has surfaced since the two brands signed an unexpected Memorandum of Understanding last September. A couple of months after the partnership was announced, the Korean business newspaper Pulse reported that Hyundai could slap its badge on GM trucks. What could GM possibly get in return? Hyundai's electric commercial vehicles to sell in the United States.
Earlier today, during an analyst call, Hyundai Chief Financial Officer Lee Seung Jo revealed that GM could sell badge-engineered Hyundai commercial EVs in the US: "We are considering re-badging our commercial EVs and supplying GM. The deal will pave the way for our entry into the North American commercial vehicle market."
It’s too soon to say whether GM will gain access to Hyundai's new scalable ST1 platform, featured here, and/or bigger vehicles such as fuel cell and battery buses. Hyundai also sells a hydrogen Xcient, which it claims is the world's first mass-produced heavy-duty hydrogen-electric truck.
Reuters reports that Hyundai and GM will finalize the details of their partnership by the end of March. The two parties are negotiating a collaboration involving passenger and commercial vehicles and parts procurement. When the MoU was signed last year, the two also mentioned the possibility of jointly developing new products and sourcing raw battery materials and steel.
During the analyst call, Lee pointed out that 2025 will likely be a tricky year, given the political turbulence in Korea. The US also faces uncertainties following President Donald Trump's statements regarding tariffs and federal and state support for electric vehicles. In addition, stricter emissions regulations in Europe are a cause for concern, corroborated by lower incentives for EVs in many EU countries, some of which have eliminated benefits altogether.
Hyundai ST1
Source: Reuters
