GM pivots to Hyundai from Honda in shifting EV landscape

U.S. and South Korean partners aim to bring down costs to compete with Chinese rivals

A partnership between General Motors and Hyundai Motor would be the first of its kind between U.S. and South Korean automakers. (Source photos by Reuters)

AZUSA KAWAKAMI and NAMI MATSUURA, Nikkei staff writers

September 14, 2024 02:25 JST

NEW YORK/SEOUL -- After scrapping its electric-vehicle development tie-up with Honda Motor, General Motors is betting on new partner Hyundai Motor in next-generation vehicles as Chinese competition and slowing U.S. and European demand force automakers to rethink their plans.

The two companies announced a memorandum of understanding Thursday covering EV and software development for both passenger and commercial vehicles, as well as battery materials procurement and hydrogen technology.