Daily 5 report for Sept. 13: The GM-Hyundai collaboration benefits could include cutting costs among others
We close the week with reaction to the announcement that General Motors and Hyundai Motor Co. are exploring cooperating across a range of technologies and vehicles. Though the two automakers offered few details and no time frames for any tie-ups, their Sept. 12 joint announcement covered a swath of areas for potential cooperation, from passenger cars and commercial vehicles to new engines, battery raw materials, electrification and hydrogen technology. Benefits could include cutting costs and achieving scale, analysts say.
Also uncertain is the future of Stellantis’ Belvidere plant. The UAW’s new contract with Stellantis last fall looked like a big win for Belvidere, Ill. But the cloud that appeared to have been lifted settled again over the idled assembly plant —and the town — when Stellantis in August said it was delaying its proposed reopening. The automaker insists it remains committed to following through on the deal and is disputing accusations that a postponement would break the bargaining agreement. We’ll definitely be keeping an eye on this one.