S&P 500 eases slightly from fresh record high after stronger economic growth
Investing.com -- Hyundai Motor (OTC:HYMTF) and General Motors (NYSE:GM) have announced plans to jointly develop five vehicle models, marking a significant step in their strategic collaboration.
The partnership will focus on creating four models for Central and South American markets, including mid-size and compact pickups, a small car, and a compact SUV. These vehicles will feature both internal combustion engine and hybrid electric vehicle powertrains.
The fifth model will be an electric commercial van designed for North America, with manufacturing planned in the United States as early as 2028.
All five models will share a common platform and are scheduled to launch around 2028. The companies expect full-scale production to exceed 800,000 units annually.
This announcement builds upon the strategic collaboration first disclosed in September 2024. Morgan Stanley (NYSE:MS) analysts noted that the partnership reflects a broader industry trend where automakers are increasingly collaborating to manage capital intensity and execution risks associated with electrification and autonomous technology.
The alliance is expected to provide cost-sharing and scale benefits while improving regional competitiveness for both automakers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.