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GM and Hyundai Motor Company have signed a Memorandum of Understanding (MoU) to explore potential collaborations across several strategic areas. Both companies are aiming to enhance efficiency and strengthen their competitiveness in the automotive market. This news comes as GM is reportedly in talks with CATL to license its technology for a new US based battery production facility, which could be operated by the Japanese electronics giant, TDK. Additionally, the announcement follows GM’s finalised plans with Samsung SDI to build a gigafactory in Indiana, US.
A collaboration with significant potential
The MoU between GM and Hyundai marks the beginning of what could become a wide-reaching partnership, though specific details remain limited. The collaboration is expected to span multiple aspects of both companies’ operations, including joint procurement of key resources such as battery raw materials and steel. Other areas under consideration include the co-development and production of ICE, EV, and hydrogen-powered passenger cars and commercial vehicles.
While no precise timelines were disclosed, the pair’s press release indicated that following the MoU’s signing, the “assessment of opportunities and progression towards binding agreements will begin immediately.”
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