Following the Korea-U.S. tariff negotiations, the 'MASGA (Make American Shipbuilding Great Again) Project' has gained momentum, and collaboration between companies from both countries is expanding in the automotive industry as well. Hyundai Motor Group and General Motors (GM), the leading automotive companies of Korea and the United States, are sharing their strengths to jointly develop new models.

Hyundai announced on the 7th that it has signed an MOU with GM to jointly develop five new models. The collaboration targets the development of electric commercial vans aimed at the North American market and small to medium-sized pickup trucks and compact passenger cars and SUVs for the Central and South American markets. The platform, which can be considered the 'skeleton' of a car, will be jointly developed, while the interior and exterior designs will be done separately and sold under each brand. Hyundai, which is ahead in electric vehicle and small to medium-sized SUV technology compared to the U.S., will lead the development of platforms for electric commercial vans and small vehicles, while GM, strong in large pickup trucks, will take the lead in developing the medium-sized pickup truck platform.

This is the first time Hyundai is jointly developing core technologies like platforms with an overseas competitor. A Hyundai representative stated, “In the past, there were small-scale technical collaborations, but we have never jointly pursued platform development that dictates the direction of new car development.” Both companies expect that this approach will significantly reduce development costs while increasing consumer choices. Typically, developing a new car model takes 4-5 years and costs several hundred billion KRW, but by sharing the costs, it is expected to be reduced to about half. Particularly, the SUV and small vehicle platforms led by Hyundai are being developed to produce both internal combustion and hybrid models, allowing for the production of various types of vehicles.

Jose Munoz, President of Hyundai, stated, “Based on the cooperation between the two companies, we will be able to provide products with the design, quality, and safety that customers want more efficiently.” Shilpan Amin, GM's Senior Vice President, also commented, “We can now offer customers a wider range of choices at lower costs and more quickly.”

The cooperative relationship between the two companies began to solidify when Hyundai acquired GM's production plant in India in 2023. This led to the signing of an MOU last September, where both companies began discussing joint development projects. It is expected that the areas of cooperation will continue to expand in response to tariff challenges. The two companies stated, “We are planning joint sourcing for materials, transportation, and logistics in North and South America,” and added, “We will also jointly discuss cooperation in raw materials and parts, as well as sustainable manufacturing methods such as carbon-reduction steel.”

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