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Hyundai Motor Company [KRX:005380] and General Motors [NYSE: GM] have confirmed plans to jointly develop five vehicles following a framework agreement signed in September 2024. The release said the pair would launch four vehicles for Central and South America — a compact SUV, a car, a compact pick-up, and a mid-size pick-up — and an electric commercial van for North America.
Hyundai will lead the compact models and van, GM will lead the truck platform, the release added. The companies will use shared platforms but distinct interiors and exteriors.
They expect full-scale production to reach 800,000 units annually from 2028. Design work has begun, and the van will be built in the US.
The release said the companies also plan joint sourcing across logistics, materials and emissions-reduction technologies.
Hyundai operates globally. GM is headquartered in Michigan, USA.
Source: GM
