GM may start selling Hyundai commercial electric vehicles under its own brand in America
General Motors (GM) and Hyundai Motor Company are in the final stages of talks on a collaboration that could lead to GM selling Hyundai's own-brand commercial electric vehicles in the United States. The move would allow Hyundai to enter the North American commercial vehicle market by leveraging GM's dealer network and reputation.
Here's What We Know
During a recent call with analysts, Hyundai CFO Lee Seung Jo said that the company is considering rebranding its commercial electric vehicles and supplying them to GM.
The talks are being held under a memorandum of understanding signed in September 2024. According to Reuters, the companies will sign additional agreements by the end of March 2025. The co-operation will cover not only commercial and passenger vehicles, but also joint purchases of components. In addition, the alliance may start joint purchases of steel and raw materials for batteries.
Lee noted that 2025 is likely to be a challenging year given the political instability in Korea. The US has also faced uncertainty following President Donald Trump's statements on tariffs and federal and state support for electric vehicles. In addition, stricter emissions rules in Europe have raised concerns, as evidenced by lower incentives for electric vehicles in EU countries, some of which have eliminated incentives altogether.
Source: Reuters
