Hyundai Motor is reportedly considering using General Motors’ (GM) all-electric pickup platform to launch its own electric pickup in the United States. We already have seen a test mule of a pickup near Hyundai Design Center in California, using a Kia EV9 and Hyundai Santa Cruz as donors.
Hyundai’s Potential Use of GM’s Electric Pickup Platform
Hyundai and GM have been working together since signing a memorandum of understanding (MOU) in September 2023 to collaborate on commercial electric vehicles. While the partnership initially focused on rebadging Hyundai’s ST1 platform and other commercial vehicles for GM, recent developments suggest that Hyundai is exploring the possibility of leveraging GM’s expertise in electric pickups.
GM’s all-electric pickup platform, which underpins models like the Chevrolet Silverado EV, is one of the most advanced in the industry. By utilizing this platform, Hyundai could accelerate its entry into the US electric pickup market, saving time and resources on developing its own from scratch.
Why the US Market?
The US market has seen a surge in demand for electric pickups, driven by consumer interest in eco-friendly alternatives to traditional gas-powered trucks. With established players like Ford, Rivian, and Tesla already competing in this space, Hyundai’s entry would add a new dimension to the market.
By leveraging GM’s proven platform, Hyundai can focus on designing a pickup that meets the specific needs and preferences of American consumers, such as towing capacity, range, and rugged performance. This approach would allow Hyundai to compete effectively while minimizing development risks.
Hyundai’s EV pickup test mule spotted in California
The Rebadging Strategy
Hyundai’s partnership with GM includes a rebadging strategy, where Hyundai will supply commercial electric vehicles to GM under the latter’s brand. This approach could extend to passenger vehicles, including pickups, allowing Hyundai to leverage GM’s platform while maintaining its own brand identity.
This strategy not only reduces development costs but also enables Hyundai to enter the market faster, capitalizing on the growing demand for electric pickups in the US.
Economic and Regulatory Considerations
Hyundai’s Vice Chairman Lee Seung-jo has highlighted potential challenges in the coming years, including political instability and economic uncertainty. Additionally, some countries are reducing or eliminating incentives for electric vehicles, which could impact consumer demand.
However, the US remains a key market for EV growth, with federal and state-level incentives still in place to encourage adoption. By entering the electric pickup segment, Hyundai can position itself as a major player in the US EV market, driving long-term growth and sustainability.
Conclusion
Hyundai’s potential use of GM’s all-electric pickup platform to launch its own electric pickup in the US market is a strategic move that underscores the company’s commitment to innovation and expansion. By leveraging GM’s expertise and proven technology, Hyundai can accelerate its entry into the competitive electric pickup segment, offering American consumers a compelling new option.
