The companies will start talking right away about how they can team up on building all kinds of vehicles. They're looking at working together on gas cars, electric vehicles, and even commercial trucks. They might also share resources like steel and battery materials.
Mary Barra, GM's CEO, said the goal is to "get even more competitive vehicles to customers faster and more efficiently."
By joining forces, Hyundai and GM hope to cut costs and speed up the process of designing new cars. They also want to be smarter about how they spend money and invest in new technology. All of this could help them compete better against Chinese carmakers, especially when it comes to electric vehicles.
This team-up comes after GM scrapped plans to work with Honda on cheaper electric cars. Those cars were supposed to hit the road in 2027, but that deal fell through.
Other car companies are also looking to partner up. Honda, Nissan, and Mitsubishi are talking about working together on electric cars and software. Meanwhile, Toyota, Mazda, and Subaru are sticking with gas engines for the long haul.
