The two companies will co-develop four vehicles for the Central and South American market, including a compact SUV, car, and pick-up, as well as a mid-size pick-up, all with the flexibility to use either internal combustion or hybrid propulsion systems. Hyundai and GM also will co-develop an electric commercial van for North America. No word if these co-developed products will be offered in other territories.

Hyundai and GM expect sales of the co-developed vehicles to be more than 800,000 vehicles a year once production is fully scaled.

GM will lead the development of the mid-size truck platform, while Hyundai will lead on the compact vehicle and electric van.

Despite sharing common platforms, both Hyundai and GM say they’ll have unique interior and exterior treatments, consistent with their specific branding.

Design and engineering work is underway on the new vehicles for the Central and South American markets, which will launch in 2028. The electric commercial van will be manufactured in the U.S. as early as 2028.

The two companies also plan joint sourcing initiatives in North and South America for materials, transport, and logistics. Further areas for potential joint operations include raw materials, components, and complex systems.

Hyundai Motor and GM also agreed to explore collaboration on low-carbon emissions steel as part of their commitment to sustainable manufacturing.