Hyundai and GM in Talks for Electric Van and Pickup Sharing Deal

Hyundai and GM in Talks for Electric Van and Pickup Sharing Deal

Hyundai Motor and General Motors are close to finalizing a deal for Hyundai to share two electric commercial van models with the U.S. auto giant. In return, GM might provide Hyundai with pickup trucks to sell under its own brand in North America.

This potential partnership could be a response to the rising competition from Chinese EV makers and the threat of a global chip shortage. Both companies are looking to share products to reduce spending and increase efficiency.

Hyundai would initially import the vans from South Korea, but is considering manufacturing them in North America by 2028. The talks on pickups focus on GM sharing its midsized trucks, branded as the Chevrolet Colorado and GMC Canyon in the United States. Hyundai also wants to sell a version of GM’s popular full-sized pickups, but GM hasn’t agreed to that yet.

The automakers are also discussing the possibility of Hyundai providing GM with compact SUVs for its product line-up in Brazil.

Hyundai said in January that it is in talks to supply electric commercial vehicles to GM as part of a preliminary agreement to explore cooperation on vehicles, supply chains, and clean-energy technologies.

“Both companies continue to explore potential areas of collaboration.”

Hyundai said in a statement that nothing has been finalized in ongoing talks but that the automakers are exploring deals “across key strategic areas.”

This potential partnership could help both companies better compete in the electric vehicle market and expand their product offerings. It could also help them reduce costs and increase efficiency.