General Motors, Hyundai To Explore Collaboration; Plans Co-development And Production Of Vehicles

(RTTNews) - General Motors (GM) and Hyundai Motor Company have signed an agreement to explore future collaboration across key strategic areas. Potential collaboration projects center on co-development and production of passenger and commercial vehicles, internal combustion engines and clean-energy, electric and hydrogen technologies. They will review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas.

The framework agreement was signed by Hyundai Executive Chair Euisun Chung and GM CEO Mary Barra. Following the signing of the non-binding MoU, assessment of opportunities and progression towards binding agreements will begin immediately.