Hyundai Motor, GM sign MOU for comprehensive cooperation [from The Korea Times]

Automobile giants Hyundai Motor Company and General Motors (GM) have signed a memorandum of understanding (MOU) to jointly explore future collaboration across key strategic areas, including vehicles, supply chains and clean energy technologies, the two companies said Thursday.

With Hyundai Motor Group Executive Chairman Chung Euisun, GM Chair and CEO Mary Barra signing the MOU, the two sides will look for ways to leverage their complementary scale and strengths to reduce costs and accelerate a wider range of vehicles and technologies to customers.

This will include the co-development and production of passenger and commercial vehicles, internal combustion engines and clean energy, electric and hydrogen technologies. The companies will also explore opportunities for joint sourcing of battery raw materials, steel and other areas.

“This partnership will enable Hyundai Motor and GM to explore opportunities to enhance competitiveness in key markets and vehicle segments,” Chung said.

Full News: Hyundai Motor, GM sign MOU for comprehensive cooperation [from The Korea Times]

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