Documents reviewed by Reuters indicate that General Motors (GM) and Hyundai Motor are close to reaching an agreement for the production of two electric commercial van models at Hyundai Motor. Hyundai plans to receive pickup trucks from GM in return for providing commercial electric van models for the North American market.

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The potential agreement indicates possible future cooperation between the two automotive manufacturers as they maintain extensive ongoing dialogues. Documents from Hyundai indicate the company explores joint ventures regarding chip development and purchasing alongside battery development. They also consider ventures for next-generation battery materials.

GM together with Hyundai work to counter growing competition from Chinese EV manufacturers and trade wars by sharing their products to achieve cost efficiencies.

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Hyundai plans to begin electric van imports from South Korea for both brands with potential production in North America scheduled for 2028. Companies have three possible manufacturing options which consist of building new factories or expanding current plants or outsourcing production operations.

GM intends to share its Chevrolet Colorado and GMC Canyon mid-sized pickup trucks under a new product sharing agreement. Hyundai continues to show interest in GM's full-sized pickup trucks although GM has not made these vehicles available for consideration. The negotiations for a pickup truck deal between the two companies will extend beyond the timeframe required for their commercial van agreement.

The talks with Hyundai involve potential compact SUV supply for GM's upcoming Brazilian vehicle lineup.

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In January 2023 Hyundai announced its discussions with GM regarding electric commercial vehicle supply as part of their joint investigation into vehicle development and clean technology and supply chain cooperation.

New information regarding the potential pickup sharing agreement becomes public for the first time.

GM declined to give details about their negotiations but confirmed that their companies maintain active discussions regarding potential collaboration opportunities." Hyundai reiterated that ongoing talks are exploring deals "across key strategic areas" but that nothing has been finalized. This potential partnership reflects the industry's growing trend of collaboration to address market challenges and accelerate technological advancements.