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general motors and hyundai motor group recently signed a cooperation agreement to cooperate on key future strategies, including passenger cars and commercial vehicles, to achieve the goal of reducing costs and providing a wider range of vehicles and technologies to the consumer market through each other's scale and advantages. in addition to joint product development and manufacturing, the two sides will also strengthen the development of pure energy technology in response to the rise of environmental awareness.

development focus: from vehicle technology to hydrogen fuel technology

the cooperation agreement was signed by gm ceo mary barra and hyundai motor executive chairman euisun chung. the core development focus is on the development and production of vehicle technology, engine technology, clean energy, power systems and hydrogen fuel technology. both parties will also actively strive for procurement opportunities as supply chain and equipment suppliers in the fields of battery raw materials, steel, etc.

gm said that the cooperation between the two parties will improve vehicle development efficiency through large-scale production and cost reduction, give full play to scale and create a win-win situation, and provide competitive models in the market. hyundai motor mentioned that under the cooperation agreement, it will be able to strengthen the competitiveness of the automobile market and create higher product value with key technologies.

hyundai previews 21 new-generation pure electric vehicles

at the hyundai 2024 ceo investor day shareholders' meeting in early september, the brand took the lead in announcing the hyundai way development strategy, mentioning product planning and sales targets before 2030. it hopes to meet the needs of continental markets such as the united states and china through hybrid models and augmented-range electric vehicles, and will successively launch 21 pure electric models, including large suvs with three rows of seats and even the mass-produced version of the performance representative n vision 74 concept.

gm cooperates with samsung sdi to build battery manufacturing plant

in terms of new energy development, gm announced in august that it would form a joint venture with samsung sdi to establish an electric vehicle battery manufacturing plant. indiana, the united states, was selected as the base, with an investment of us$3.5 billion. samsung sdi will acquire a 50.1% stake and gm will hold a 49.9% stake. it is expected to enter the production stage in 2027, with an estimated annual output of 27gwh, and will increase to 36gwh year by year.