Basic Motors and Hyundai signed a memorandum of understanding that might result in the 2 automakers collaborating on inexperienced tech comparable to fuel-cell autos and EV battery manufacturing.
The non-binding memorandum introduced Thursday is step one towards a partnership between GM and Hyundai. The potential partnership would concentrate on utilizing the automakers’ mixed economies of scale to cut back prices, the businesses emphasised.
2025 Hyundai Ioniq 5
“Potential collaboration initiatives heart on co-development and manufacturing of passenger and business autos, inside combustion engines, and clean-energy, electrical and hydrogen applied sciences,” the automakers mentioned.
The 2 automakers may also “evaluate new alternatives for mixed sourcing” of battery uncooked supplies, metal, and different uncooked supplies. GM in 2022 mentioned it had already secured sufficient battery uncooked supplies to ascertain annual North American manufacturing capability of 1 million EVs by 2025, though it has now backed away from that focus on after points in ramping up its Ultium {hardware}.
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This might be GM’s second main partnership with one other automaker related to EVs. An present partnership with Honda has seen GM manufacture the Ultium-based Acura ZDX and Honda Prologue electrical SUVs for the Japanese automaker. GM and Honda in 2023 confirmed an early finish to an affordable-EV partnership, aborting plans to make tens of millions of EVs collectively. The 2 automakers additionally proceed to companion on hydrogen fuel-cell tech.
Honda is now specializing in creating EVs in-house. It is focusing on 2 million annual EV gross sales by the top of the last decade from a household of next-generation EVs dubbed the 0 Sequence, and it is also partnering with Sony on the Afeela EV model. That probably leaves room for GM to usher in one other automaker companion for future electrification plans.