Iveco and Hyundai join forces

Iveco and Hyundai Motor Company have signed a Memorandum of Understanding (MoU) to explore possible collaborations on shared vehicle technology, joint sourcing, and mutual supply.

The signing took place at Hyundai Motor Company and the major participants included Iveco Group CEO Gerrit Marx and chief technology and digital officer Marco Liccardo, alongside Hyundai Motor Company president and CEO Jaehoon Chang, and executive vice president and commercial vehicle development tech unit head Martin Zeilinger.

The MoU is a preliminary step in assessing the potential for the two groups to cooperate in the domains of technology and platforms, encompassing components and systems. Areas of possible mutual interest pertain to electric powertrains and platforms including fuel-cell systems, vehicle automation, and connectivity for commercial vehicles.

This agreement is a further step in Iveco Group’s and Hyundai Motor Company’s independent strategies to create leading innovative solutions in today’s fast-changing environment by building an ecosystem of mutually-beneficial partnerships.

It is going to be very interesting to see what comes of this partnership…