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GM and Hyundai signed a Memorandum of Understanding last September. It is reported that as part of the cooperation, Hyundai's electric commercial vehicles may be sold in the United States under a new brand.
During a phone call with analysts, Hyundai Chief Financial Officer Lee Seung-cho said that GM may sell Hyundai commercial electric vehicles in the US under a “separate brand.”
“We are considering the possibility of replacing our commercial electric vehicles and supplying GM. The deal will pave the way for our entry into the North American commercial vehicle market,” he noted.
It's too early to say whether GM will have access to Hyundai's new, scalable ST1 platform, or larger vehicles like fuel cell and battery buses. Hyundai also sells the hydrogen-powered Xcient, which it claims is the world's first mass-produced, heavy-duty hydrogen-electric truck.
Reuters reports that Hyundai and GM will finalize details of their partnership by the end of March. The two sides are in talks to collaborate on passenger and commercial vehicles and parts procurement.
Speaking to analysts, Lee said 2025 is likely to be a challenging year given the political turbulence in South Korea. The United States also faces uncertainty following President Donald Trump's announcements about tariffs and federal and state support for electric vehicles.
