Hyundai Motor and Iveco Group expand their partnership to explore synergies for electric heavy-duty trucks in the European markets
Turin, Italy and Seoul, South Korea — Hyundai Motor Company and Iveco Group (EXM: IVG) are strengthening their partnership to drive innovation in the commercial vehicle sector.
Today the two companies signed a Letter of Intent (LOI), reinforcing their partnership with a forward view towards electric heavy-duty truck solutions, including both battery electric trucks and fuel cell electric trucks, for European markets. By leveraging the advanced technologies and assets of each party, the two companies expect to accelerate the transition to a sustainable future.
Since initiating their partnership in March 2022, Hyundai Motor and Iveco Group have achieved a series of significant milestones. Notably, in September 2022, they unveiled the first IVECO eDaily Fuel Cell Electric Vehicle at the IAA Transportation event in Hanover. This was followed by the debut of the IVECO BUS E-WAY H2 in October 2023 at Busworld in Brussels. Most recently, in February of this year, the two companies announced the signing of a supply agreement for an IVECO-badged all-electric light commercial vehicle for Europe, based on Hyundai’s eLCV platform.
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