Strange Clean Energy Bedfellows – GM and Hyundai

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General Motors (NYSE: GM) and Hyundai Motor Company (KRX: 005380 KS) said today that they have signed an agreement to explore collaboration across key strategic areas. The culturally different companies will look at joint product development, manufacturing and future clean energy technologies. They will also review prospects for combined sourcing in battery raw materials, steel and other areas. This calls into question is GM’s existing similar agreements with Honda Motor.*

“GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently,” said GM Chair and CEO Mary Barra.

“This partnership will enable Hyundai Motor and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies,” said Euisun Chung, Hyundai Motor Group Executive Chair.

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