Automotive
GM, Hyundai link up to collab in key areas, including steel sourcing
Written by Laura Miller
September 13, 2024
General Motors and Hyundai Motor Co. announced they will be linking up to explore collaboration opportunities across a variety of areas, including their sourcing of steel.
Detroit-based GM and Seoul, South Korea-based Hyundai announced on Sept. 12 the signing of a non-binding memorandum of understanding “to investigate joint product development, manufacturing, and future clean energy technologies.”
The announcement added that the automakers plan to “review opportunities for combined sourcing in battery raw materials, steel, and other areas.”
The companies have already begun to assess potential opportunities, with an aim of moving towards more binding agreements.
“GM and Hyundai have complementary strengths and talented teams,” commented GM Chair and CEO Mary Barra. “Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently.”
Laura Miller
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