GM and Hyundai agree to explore collaboration on vehicles and manufacturing to reduce capital spending

[Biker16]

https://www.cnbc.com/2024/09/12/gm-hyundai-collaboration-vehicles-manufacturing.html

 

Quote

DETROIT — General Motors
 and Hyundai Motor
 have entered into an agreement to explore “future collaboration across key strategic areas” in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday.

The automakers’ potential areas of interest include co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy, electric and hydrogen technologies, they said in a joint press release.

The agreement, a nonbinding memorandum of understanding, comes as the automotive industry has renewed its focus on capital efficiency following years of aggressive spending to develop electric, autonomous and software-defined vehicles that have yet to manifest into profitable businesses.

The automakers also said they will “review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas.”

The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, the companies said.

 

[twintornados]

Haven't we seen this before??

[silvrsvt]

On 9/13/2024 at 3:14 PM, twintornados said:

Haven't we seen this before??

 

 

That was Daewoo, not Hyundai

 

Daewoo was nothing more then GM Korea for over 50 years and Daewoo products just got rebranded as Chevrolet in the EU and other places

[DeluxeStang]

It makes sense to partner with other brands currently given how expensive EVs are. It would be wise for Ford to sell their CE1 platform to another brand or something along those lines to generate additional revenue. 

[twintornados]

12 hours ago, silvrsvt said:

 

 

That was Daewoo, not Hyundai

 

Daewoo was nothing more then GM Korea for over 50 years and Daewoo products just got rebranded as Chevrolet in the EU and other places

 

Still Korean....amazing how quickly they crumbled after the Asian financial crisis of 1997....by 1999, bankrupt.

[morgan20]

On 9/16/2024 at 12:49 AM, DeluxeStang said:

It makes sense to partner with other brands currently given how expensive EVs are. It would be wise for Ford to sell their CE1 platform to another brand or something along those lines to generate additional revenue. 

 

Didn't Ford partner with VW and Rivian only to back out? The big shots at Ford can't seem to figure out how to work with other companies on EV. Now both GM and Hyundai are catching up or outpacing Ford. There was a report yesterday that GM EV sales surged in the past 2 months

 

GM sold nearly 21,000 EVs in the US over the past two months, according to new sales data from CNBC. In August alone, GM’s EV sales surged roughly 70% from last year.

The sales surge comes as GM expands its lineup across key EV segments, including low-cost and luxury.

“We have the most comprehensive EV lineup out of any manufacturer in the industry, in the US, at the moment,” GM’s president of global markets, Rory Harvey, said.

Harvey believes GM is “definitely outstripping the industry in terms of growth” with EVs. Although still far behind market leader Tesla, GM is closing the gap with rivals Ford and Hyundai.

 

 

[silvrsvt]

5 hours ago, morgan20 said:

 

Didn't Ford partner with VW and Rivian only to back out? The big shots at Ford can't seem to figure out how to work with other companies on EV. Now both GM and Hyundai are catching up or outpacing Ford. There was a report yesterday that GM EV sales surged in the past 2 months

 

GM sold nearly 21,000 EVs in the US over the past two months, according to new sales data from CNBC. In August alone, GM’s EV sales surged roughly 70% from last year.

The sales surge comes as GM expands its lineup across key EV segments, including low-cost and luxury.

“We have the most comprehensive EV lineup out of any manufacturer in the industry, in the US, at the moment,” GM’s president of global markets, Rory Harvey, said.

Harvey believes GM is “definitely outstripping the industry in terms of growth” with EVs. Although still far behind market leader Tesla, GM is closing the gap with rivals Ford and Hyundai.

 

GM started selling the Blazer and Equinox EVs....I'd hope they'd be selling more then Ford that hasn't put out anything since the Lightning. 

[morgan20]

2 hours ago, silvrsvt said:

 

GM started selling the Blazer and Equinox EVs....I'd hope they'd be selling more then Ford that hasn't put out anything since the Lightning. 

 

Yea, it sucks that Ford has been so slow introducing new EVs in the past year compared to GM and Hyundai.

 

Would partnering with another automaker help speed things up at Ford? After what happened with the VW and Rivian partnerships, maybe not

Edited September 24 by morgan20

[silvrsvt]

15 minutes ago, morgan20 said:

 

Yea, it sucks that Ford has been so slow introducing new EVs in the past year compared to GM and Hyundai.

 

Would partnering with another automaker help speed things up at Ford? After what happened with the VW and Rivian partnerships, maybe not

 

It all depends-GM hasn't had much in EV sales the past couple of years (due to a lack of product) and what are the realistic expectations of the Blazer and Equinox EV sales? 50K a year? Their gas counter parts sell 2-3x that in a year. 

 

As for Rivian and VW, it is kinda funny that they both hooked up with one another after Ford, but it appears that Ford might have been better off without them..and who knows how Hyundia and GM will work out-they might have the same issues. 

[morgan20]

1 hour ago, silvrsvt said:

GM hasn't had much in EV sales the past couple of years (due to a lack of product)

 

In 2022 GM had Bolt, Hummer EV pickup, and Brightdrop van. Ford had Mach-E, F-150 Lightning, and E-Transit

 

Fast forward to 2024, GM got rid of Bolt but added Lyriq, Escalade iQ, Optiq, Celestiq, Blazer EV, Equinox EV, Silverado EV, Sierra EV and Hummer EV SUV. Ford has the same EV as they did in 2022, Mach-E, F-150 Lightning, and E-Transit. The GM big shot who said they have the most comprehensive EV lineup out of any manufacturer in the industry, in the US, at the moment wasn't kiddin'. Maybe they don't need the partnership with Hyundai after all

[Biker16]

2 hours ago, morgan20 said:

 

In 2022 GM had Bolt, Hummer EV pickup, and Brightdrop van. Ford had Mach-E, F-150 Lightning, and E-Transit

 

Fast forward to 2024, GM got rid of Bolt but added Lyriq, Escalade iQ, Optiq, Celestiq, Blazer EV, Equinox EV, Silverado EV, Sierra EV and Hummer EV SUV. Ford has the same EV as they did in 2022, Mach-E, F-150 Lightning, and E-Transit. The GM big shot who said they have the most comprehensive EV lineup out of any manufacturer in the industry, in the US, at the moment wasn't kiddin'. Maybe they don't need the partnership with Hyundai after all

The Bolt Returns next year, likely with the Tesla connector, and the lowest price on the market. 

[morgan20]

10 hours ago, Biker16 said:

The Bolt Returns next year, likely with the Tesla connector, and the lowest price on the market. 

 

Yea, GM said it begin making NACS standard on all of its EVs starting in 2025, so new Bolt will get it. Hyundai is adding NACS port even sooner, starting in 4th quarter this year. 2025 Ioniq 5 will be the first non-Tesla EV with NACS out of the box when it comes out in the next few weeks.