Daily Report 5, September 13: Benefits of GM-Hyundai collaboration could include cost cutting, among others

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By Maya Cantina

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Daily Report 5, September 13: Benefits of GM-Hyundai collaboration could include cost cutting, among others

We ended the week with a reaction to the announcement that General Motors Co. and Hyundai Motor Co. are exploring cooperation across a range of technologies and vehicles. While the two automakers offered few details and no timeline for any tie-ups, their joint announcement on Sept. 12 covered a range of areas for potential cooperation, from passenger cars and commercial vehicles to new engines, battery raw materials, electrification and hydrogen technology. The benefits could include cost cutting and gaining scale, analysts say.

Also uncertain is the future of Stellantis’ Belvidere plant. The UAW’s new contract with Stellantis last fall seemed like a major victory for Belvidere, Illinois. But the cloud that seemed to have been lifted again fell over the idled assembly plant — and the town — when Stellantis said in August that it was delaying its proposed reopening. The automaker insists it remains committed to moving forward with the deal and is pushing back against claims that a delay would break the bargaining agreement. We’ll definitely be keeping an eye on this.

Meanwhile, after a recent stagnation, venture capital investment in transportation technology is picking up, and Toyota’s halt on sales of the Grand Highlander and Lexus TX is now set to end at the end of October after Toyota determined that modifying the side curtain airbags will bring the vehicles back into compliance.

And finally, be sure to check out our spy art of what will likely be the most powerful Corvette yet.

That’s it for today. Have a great weekend.

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