GM's Stock Surges 4% Following Hyundai Partnership for Cars and Supply Chain
Thursday, 12 September 2024, 11:13
GM's Stock Jumps 4% Due to Hyundai Collaboration
GM's stock jumped 4.2% on Thursday following significant news of a memorandum of understanding with South Korea's Hyundai. This partnership will explore collaboration in the fields of vehicles, supply chain, and clean energy technologies. The collaboration is designed to cut costs and speed up market readiness of new technologies.
Key Projects Under Consideration
- Co-development of passenger and commercial vehicles
- Advancement of internal combustion engines
- Exploration of clean energy solutions
- Development of electric and hydrogen technologies
Opportunities for Combined Sourcing
- Battery raw materials
- Steel
- Additional resources
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