Hyundai And GM Officially Establish Green Vehicle And Energy Development Cooperation

JAKARTA - General Motors (GM) and Hyundai Motor Company officially signed a collaborative agreement for a number of strategic fields.

This partnership will be expected to be able to find ways by utilizing the strengths of each company to complement and reduce costs to bring more vehicles and technology that consumers like faster.

The project from this partnership is centered on joint development as well as production of passenger vehicles, commercials, internal combustion engines (ICE), environmentally friendly technologies such as electrical and hydrogen energy.

The signing was carried out by each company representative, consisting of Hyundai Motor Group Chairman Euisun Chung and Chairman and CEO General Motors Mary Barra.

In addition, the partnership between the two giant companies has the potential to make vehicle development more efficient by driving a larger scale and supporting disciplined capital allocations.

"Our goal is to open the scale and creativity of the two companies to bring more competitive vehicles to customers more quickly and efficiently," Barra said on the company's official website, Friday, September 13.

Then, the two leading global OEMs will also review opportunities for joint procurement in various fields such as raw materials for batteries, steel, and other fields.

The flexibility, accuracy, and agility of Hyundai and GM will allow both to explore the development of shared capabilities.

It is hoped that this collaboration can evaluate opportunities to increase competitiveness in the main vehicle segment, as well as encourage cost efficiency and provide stronger customer value through a combination of innovative expertise and technology.