In the United States, two of the best-selling EV brands linked strength to succeed over a doubtful market in 2025. Hyundai showed Thursday that he approached an agreement with GM that would come with Re-Mading EV models. This is what you should expect.
After announcing its fourth quarter 2024 financials, Hyundai confirmed it was nearing a deal to sell commercial EVs to GM.
“We are rebranding our electric car announcement and supplying GM,” Hyundai Chief Financial Officer Lee Seung Jo said on a convention call (via Reuters) on Thursday. Lee added that the deal would pave the way for our access to the North American advertising vehicle market.
This partnership comes amid new uncertainty under US President Donald Trump. Trump already eliminated the “mandate” on electric vehicles, which never existed.
He also threatened to end federal prosecutors of 7,500 dollars for electric vehicles, which would further away to the United States from the growing global presence of China.
Earlier this week, Trump even said he was contemplating enforcing 25% price lists on two of the U. S. ‘s largest trading partners, Canada and Mexico. Hyundai said the replacement of the policy under Trump may hurt U. S. sales. An effect on its Japanese competition such as Toyota and Honda.
Le explained that Hyundai expects “more business uncertainties this year than ever before” with expected policy changes in the US, North Korea, and Europe.
Hyundai began production at its electric vehicle plant of $ 7. 6 billion in Georgia last October, the largest economic allocation that the State has seen.
Although Hyundai announced that the new electric cars manufactured in their facilities, adding the updated Ioniq 5 of 2025, would qualify for the US tax credit of $ 7,500, the DOE eliminated the company’s electric cars last week. The company said Thursday to plan to expand. American production will relieve the coup of converted tariffs. Hyundai will also incorporate a hybrid production into the plant in Georgia.
Hyundai and GM signed a memorandum of the offer last September to explore the non-unusual powertrain of electric vehicles, technology development, manufacturing, etc.
The Korean automaker announced on Thursday that it plans to sign binding contracts for passenger cars and vehicles until the first quarter of 2025.
Although no other details were offered, a report from Korean media Pulse claimed GM CEO Mary Barra met with Hyundai Chairman Euisun Chung last November to discuss jointly developing a pickup truck. The report said plans included “badge engineering,” where Hyundai EV models would be sold under the GM name or vice versa.
Hyundai launched the ST1 electric business van platform last March, which would likely be the basis for GM’s commercial EV.
The platform is “fit for purpose,” adding delivery, logistics, and more. It offers a refrigerator van and chassis cab option.
This is a first as it offers a robust sales channel for cars like the ST1 and the upcoming Kia PV5. It would be incredibly tricky for Kia and Hyundai to sell either of those cars directly in the U. S. under their own brands, since neither has anything in a position to take over the kind of fleet buyer advertising that Chevrolet and its dealers deal with each other. every day. It’s a win for Hyundai and a win for GM.
Although Hyundai comes from its fourth year Record of retail sales in the United States, like all car manufacturers, they are preparing for adjustments in 2025.
According to Cox Automotive, Hyundai and GM have recorded one of the most powerful sales of electric vehicles in the United States, Honda and Ford.
Hyundai Motor Group, adding Kia and Genesis, sold more electric cars than GM and Ford in the U. S. last year, with more than 120,000 units. A new partnership to supply advertising electric cars to GM, the Korean automaker, would expand further into its peak vital market.
Meanwhile, GM only sold 1,529 Brightdrop commercial electric vans in the US last year, far fewer than the Ford E-Transit (12,610) and Rivian EDV (13,243).
Peter Johnson covers the step-by-step transformation of the automotive industry to electric vehicles. He is an experienced investor, a money editor, and an electric vehicle enthusiast. His enthusiasm for electric vehicles, basically Tesla, is one of the main reasons why he has pursued a career in the investment space. If he doesn’t tell you about his latest discoveries in the 10 km, you can locate him enjoying the outdoors or exercising.