Auto giants Hyundai and General Motors confirm collaboration for pickup truck development.
In an exciting development for the automotive industry, Hyundai and General Motors have announced plans to co-develop five new cars, including a mid-size pick-up aimed at the Toyota Hilux and Ford Ranger.
The new vehicle, set to launch in 2028, will offer both petrol and hybrid options and could potentially leverage Hyundai's partnership with GM. The mid-size pick-up could potentially revive the Colorado name, which was previously used by GM's former brand, Holden.
While the Hyundai pickup for the Central and South American market, also in development through a joint venture between the two companies, will focus on emerging markets, the Australasian version is expected to produce 800,000 units annually.
Hyundai Australia CEO Don Romano has stated that everything is on the table for the new vehicle, leading to speculation that it may be the Hyundai ute rumored for local markets.
Meanwhile, Chinese automakers Chery, Geely, LDV, and MG are also gearing up to introduce more utes in New Zealand and Australia. Byd, with a significant presence in South America and recent production in Brazil, has already made an impact with its Shark 6 plug-in hybrid ute in these regions.
However, analysts like An Hyung-jin, Chief Investment Officer at Seoul-based hedge fund Billionfold Asset Management, have expressed concerns about the new Hyundai/GM ute's potential to compete with cut-price Chinese rivals.
As the industry eagerly awaits the launch of these new vehicles, it's clear that competition is set to heat up in the pick-up truck segment. Stay tuned for more updates as these exciting developments unfold.
