Normal 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 deal with utilizing the automakers’ mixed economies of scale to scale back prices, the businesses emphasised.
2025 Hyundai Ioniq 5
“Potential collaboration tasks middle on co-development and manufacturing of passenger and business autos, inside combustion engines, and clean-energy, electrical and hydrogen applied sciences,” the automakers stated.
The 2 automakers can even “overview new alternatives for mixed sourcing” of battery uncooked supplies, metal, and different uncooked supplies. GM in 2022 stated 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 concentrate on after points in ramping up its Ultium {hardware}.
2024 Chevrolet Equinox EV
This may be GM’s second main partnership with one other automaker related to EVs. An current 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 thousands and thousands of EVs collectively. The 2 automakers additionally proceed to accomplice on hydrogen fuel-cell tech.
Honda is now specializing in growing EVs in-house. It is concentrating on 2 million annual EV gross sales by the tip 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 doubtlessly leaves room for GM to herald one other automaker accomplice for future electrification plans.