Hyundai and GM Forge Alliance to Co-Develop Five Vehicles, Targeting Americas Market

Hyundai Motor Company and General Motors announced plans to co-develop five new vehicles today as part of their strategic collaboration, marking a key step in expanding their footprint across the Americas.

Hyundai shares (KRX: 005380) closed almost 1% higher on the day, whilst GM (NYSE:GM) is unchanged in early pre-market trading.

The joint venture will deliver four vehicles tailored for Central and South American markets, a compact SUV, a car, a pick-up, and a mid-size pick-up, with flexible propulsion options including internal combustion and hybrid systems.

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Additionally, the partners will develop an electric commercial van aimed at the North American market.

GM will take the lead on the mid-size truck platform, while Hyundai will oversee the compact vehicle and electric van development.

Despite sharing common platforms, each company will design distinct interiors and exteriors aligned with their brand identities.

Production of the Central and South American vehicles is scheduled to begin in 2028, with the electric van set for U.S. manufacture in the same year. Combined annual sales of these vehicles are expected to exceed 800,000 units once fully scaled.

José Muñoz, Hyundai’s CEO, said the collaboration “helps us to more efficiently provide our customers more of what they want—beautifully designed, high-quality, safety-focused vehicles with technology they appreciate.”

GM’s Shilpan Amin added the partnership would bring “more choice to customers faster and at lower cost,” leveraging their complementary strengths.