According to a source familiar with the discussions and internal Hyundai documents analyzed by Reuters, Hyundai Motor and General Motors are nearing an agreement for Hyundai to share two electric commercial van models with GM. In return, GM could supply Hyundai with pickup trucks for distribution under its own branding in North America. The potential collaboration could lead to a broader partnership as both automakers are engaged in extensive discussions. The partnership discussions also involve joint ventures in the procurement or development of technologies such as computing chips, next-generation batteries, and battery materials.

Both GM and Hyundai, facing increased competition from Chinese electric vehicle manufacturers and the possibility of a global trade conflict, are considering product sharing to reduce costs. Initially, Hyundai would manufacture vans for both its own and GM's brands, sourced from South Korea, with plans to potentially move production to North America by 2028. Talks about pickup trucks involve GM sharing midsized trucks like the Chevrolet Colorado and GMC Canyon, with discussions also around Hyundai selling a version of GM's full-sized pickups.

The negotiations on pickup trucks might take more time compared to the commercial van collaboration. Additionally, Hyundai and GM are exploring the option of Hyundai offering compact SUVs to complement GM's product lineup in Brazil. While both companies confirmed ongoing discussions about potential deals across different strategic areas, no final agreements have been reached yet.