GM and Hyundai team up to counter Chinese OEMs' low-price offensive

GM and Hyundai announced a joint development partnership for five new vehicles, including a compact crossover, a sedan, pickup trucks, and a pure electric van. The partnership aims to produce over 800,000 vehicles annually. The two companies will jointly procure components to reduce component costs and explore joint R&D in areas such as fuel cells and low-carbon steel. The first models are expected to launch as early as 2028.