Hyundai Motor and Iveco Group expand their partnership to explore synergies for electric heavy-duty trucks in the European markets

Hyundai Motor Company and Iveco Group signed a Letter of Intent (LOI) reinforcing their partnership with a facing view towards electric heavy-duty truck solutions, including both battery-electric trucks and fuel-cell-electric trucks, for European markets.

Since initiating their partnership in March 2022, Hyundai Motor and Iveco Group have achieved a series of 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.

Separately, Ford Trucks, the heavy commercial brand of Ford Otosan, and IVECO signed a non-binding Memorandum of Understanding (MoU) to explore a potential collaboration on development of a new cabin for heavy-duty commercial vehicles.

The non-binding MoU is a preliminary step in assessing the potential for the two companies to cooperate in the co-development of new products and technologies, encompassing components and systems within the cabin.

This agreement has the aim of enhancing competitiveness and improving solutions in compliance with the EU Direct Vision Standard and improving aerodynamics for CO2 reduction through the development of a mutually beneficial partnership between Ford Trucks and IVECO.