Iveco and Hyundai sign MoU

In the race for future technologies and electrification, huge companies are joining forces to save costs and share technology – and some of these collaborations are making unusual bed fellows. Witness the teaming up of partners like Hino and Isuzu or Mercedes-Benz and Volvo – who’d have thought?

Now it’s the turn of another unlikely duo, manufacturing giants Iveco and Hyundai.

Iveco Group and Hyundai Motor Company have recently 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 include Gerrit Marx, CEO of Iveco Group; Marco Liccardo, Chief Technology & Digital Officer of Iveco Group; Jaehoon Chang, President and CEO, Hyundai Motor Company; and Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development Tech Unit of Hyundai Motor Company.

According to a press statement, 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.

The statement went on to say that the agreement is a further step in Iveco Group’s and Hyundai’s independent strategies to create leading innovative solutions in today’s fast-changing environment by building an ecosystem of mutually beneficial partnerships.