GM and Hyundai to explore joint vehicle development projects

13 Sep 2024 CW Team

General Motors (GM) and Hyundai Motor Co. have announced plans to explore collaboration across key strategic areas, including potential joint vehicle development, supply chain solutions, and clean-energy technologies. The two automakers signed a non-binding memorandum of understanding to examine how their complementary strengths can reduce costs and accelerate the delivery of new vehicles and technologies.

With increasing pressure from stringent vehicle emissions regulations and competition in the global market, automakers are facing substantial capital costs to develop electric vehicles (EVs), batteries, and advanced technologies like autonomous driving. This potential collaboration between GM and Hyundai focuses on the co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy technologies, including electric and hydrogen-powered solutions.

The companies will also explore combined sourcing for essential materials such as battery components and steel, with an immediate plan to assess opportunities for binding agreements. The agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra.

"Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently," Barra said. Chung added that the collaboration aims to enhance competitiveness in key markets, improve cost efficiency, and provide stronger customer value.

This agreement comes after GM and Honda scrapped a similar collaboration in 2023, highlighting the challenges automakers face as they strive to compete in the fast-evolving EV market.

(ET)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..