Two more companies have decided to join forces in an effort to reduce the cost of developing and producing new cars, as well as shortening the development time of new cars, creating large economies of scale. These are Hyundai and General Motors, with the two companies signing a memorandum of cooperation to explore the possibility of jointly developing and manufacturing cars.
If the partnership materializes, the two companies will work together on electric and gasoline-powered cars, both passenger and business. In addition, the framework agreement mentions the possibility of channeling efforts into hydrogen technology. Companies are also interested in combining their resources such as steel, battery raw materials and more.
Talks between the two companies begin immediately and their goal is to “bring even more competitive cars to customers faster and more efficiently,” according to GM CEO Mary Barra. A more “disciplined allocation of capital” will allow the two major automakers to reduce costs by investing more efficiently, the statement said.
Source: www.autoblog.gr
