Auto tie-ups are nothing new, but they have become more frequent and wide-ranging in the age of clean energy and alternate fuel sources, as companies seek to spread out the cost and risk of adopting expensive new technologies.
The key word there is 'faster,' as EV sales growth appears to be petering out, leading to a lot of skittishness in the industry. A lack of affordable models available and historically high interest rates is sapping some of the enthusiasm from car buyers.
Both are also actively engaged in building out their respective hydrogen businesses. GM jointly owns a fuel-cell production factory with Honda, while Hyundai has said that hydrogen will play a 'prominent role' in its effort to go carbon neutral.
They will also explore ways to save money on the acquisition of battery raw materials and steel, among other crucial supplies.
Collection
[
|
...
]