General Motors (GM) and Hyundai Motor Company will collaborate on passenger and commercial vehicle production which could rely on hydrogen technologies.
The framework agreement was signed last week (September 12) by Hyundai Motor Group’s Executive Chair, Euisun Chung and GM Chair and CEO, Mary Barra.
Under the agreement, the two global OEMs will explore internal combustion (ICE) and clean energy, electric and hydrogen technologies to power their vehicles.
Barra claimed the partnership has the “potential to make vehicle development more efficient by driving greater scale and supporting disciplined capital allocation.”
The GM CEO added, “GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently.”
Hyundai’s Chung said, “This partnership will enable Hyundai and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies.”
Following the signing of the non-binding Memorandum of Understanding (MoU), the two firms will immediately assess opportunities and progression towards binding agreements.
In January, GM and Honda began mass production of hydrogen fuel cells at their joint venture (JV) facility in Michigan, the US.
Read more: GM and Honda begin mass hydrogen fuel cell production
Recently, H2 View learnt that Hyundai could be exploring hydrogen-powered vehicle products as part of a collaboration with Toyota Motor Corporation.
Read more: Toyota and Hyundai to explore hydrogen-powered vehicle collaboration
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