There is excitement in the world of freight applications, and Iveco and Hyundai are part of this trend. One only needs to think of the agreements between Daimler and Cummins on engines for commercial vehicles or that between Daimler and Volvo Truck, which established a company named Concentric. This joint venture will develop, produce and commercialize fuel-cell systems for use in heavy-duty trucks as the primary focus. Or, again, Isuzu and Cummins, Volvo Group and Traton, Daimler and Renault, and the Japanese deal between Hino, Isuzu and Toyota.
Iveco and Hyundai cooperate on vehicle technology
Iveco Group and Hyundai Motor Company have signed a Memorandum of Understanding on the 4th of March 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.
Electric powertrains and fuel-cells
The Memorandum of Understanding 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. This agreement is a further step in Iveco Group’s and Hyundai Motor Company’s independent strategies to create leading innovative solutions in today’s fast-changing environment by building an ecosystem of mutually beneficial partnerships.