Automakers love partnerships. Teaming up with other OEMs makes vehicle development cheaper and can yield interesting results with mix-and-match parts from two or more companies in one vehicle. Hyundai, which currently sells one pickup in the U.S., is reportedly cozying up with General Motors to jointly develop a pickup truck, and the pair could end up with significant financial investments in each other’s businesses.
The Korean business news publication Pulse reported that the two companies signed a memorandum of understanding back in September, and a more recent meeting saw the pair refining the deal. A source told the publication, “During the last meeting, the two leaders reviewed the progress made since the MOU was signed. We are exploring various areas for bilateral collaboration, ranging from vehicle development to future energy solutions.”
While the partnership could result in new trucks for American buyers, the initial push will be for pickups headed to Latin America. Reports suggest that the duo would pursue a badge-engineered pickup, which would be something like a Chevy Colorado or GMC Canyon wearing a Hyundai badge.
The move would allow GM to generate additional revenue without a ton of extra work, but it would also give Hyundai a launchpad to release a truck in new markets. Pickups accounted for more than $200 billion in global sales in 2023, and Hyundai is one of few automakers without a global offering. The partnership may also help Hyundai skirt some tariffs if Trump is able to implement new rules.
[Images: Hyundai, Chevrolet/GM]
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Source: The Truth About Cars
