From CNBC: 2024-09-12 06:00:01

General Motors and Hyundai Motor Group have signed an agreement to explore collaboration across strategic areas to reduce capital spending and increase efficiencies in developing passenger and commercial vehicles, engines, and clean-energy technologies. Caution has been taken following the costly pursuits of electric and autonomous vehicles that failed to be profitable. The joint press release also mentions a review of combined sourcing opportunities. Hyundai and GM will evaluate opportunities to deliver competitive vehicles faster and more efficiently with a focus on cost efficiencies and customer value. GM has been involved in several partnerships in the past, some of which have not been successful or lived up to expectations. The agreement marks the first such collaboration for Hyundai.



Read more at CNBC: GM, Hyundai to explore co-development of vehicles, manufacturing