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Investing.com -- Hyundai Motor (OTC:HYMTF) and General Motors (NYSE:GM) are nearing the completion of an agreement that would see Hyundai sharing two electric commercial van models with GM, according to a Reuters report on Thursday.
In exchange, Hyundai may receive pickup trucks from GM to sell under its own brand in North America. Hyundai is contemplating deals with GM that involve joint purchasing or development of computing chips, next-generation batteries, and battery materials.
Hyundai plans to produce vans for both its own and GM’s brands, initially importing them from South Korea. However, Hyundai may start manufacturing the vans in North America by 2028, and is considering options such as building a new plant, expanding production at an existing facility, or outsourcing the manufacturing.
The discussions about pickups are centered on GM sharing its midsized trucks, known as the Chevrolet Colorado and GMC Canyon in the United States. Hyundai also aims to sell a version of GM’s popular full-sized pickups, but GM has not yet agreed to this. Any deal regarding pickup sharing will likely take more time to finalize than the commercial van arrangement.
The automakers are also considering the possibility of Hyundai supplying GM with compact SUVs to expand its product line-up in Brazil. Hyundai had mentioned in January that it is in discussions to supply electric commercial vehicles to GM as part of a preliminary agreement to discover how the automakers could collaborate on vehicles, supply chains, and clean-energy technologies to reduce costs and accelerate development.
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