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General Motors, Hyundai Co-Develop New Models to Counter CN Automakers
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General Motors (GM.US) and Hyundai are co-developing five new car models, aiming to reduce costs to counter the fierce competition from Chinese automakers. Under full production, the two companies expect to produce at least 800,000 vehicles annually. According to the plan, four of the new models will target the Central and South American markets and will support internal combustion engines vehicles (ICEVs) and plug-in hybrid electric vehicles (PHEVs). This collaboration is expected to help General Motors vie with Chinese automakers in the Latin American market. AASTOCKS Financial News Website: www.aastocks.com |
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