General Motor, Hyundai Motor announce plans for first five co-developed autos

Hyundai Motor Company (HYMTF) and General Motors (GM) announced plans for their first five co-developed vehicles, marking a significant milestone in their previously announced strategic collaboration. The two companies will co-develop four vehicles for the Central and South American market, including a compact SUV, car and pick-up, as well as a mid-size pick-up, all with the flexibility to use either internal combustion or hybrid propulsion systems. Hyundai and GM also will co-develop an electric commercial van for North America. Hyundai and GM expect sales of the co-developed vehicles to be more than 800,000 vehicles a year once production is fully scaled. GM will lead the development of the mid-size truck platform, while Hyundai will lead on the compact vehicle and electric van. The two companies will share common platforms and develop unique interiors and exteriors consistent with their respective brands. Design and engineering work is underway on the new vehicles for the Central and South American markets, which will launch in 2028. The electric commercial van will be manufactured in the U.S. as early as 2028.