Hyundai Motor and Iveco Group to develop electric heavy-duty trucks in Europe
South Korean automaker Hyundai Motor Company and Iveco Group have taken a significant step forward in their collaboration within the commercial vehicle sector, focusing on the development of electric heavy-duty trucks for the European market. The partnership, which was initially formed in March 2022, has now been reinforced with the signing of a letter of intent (LOI) aimed at exploring synergies in battery electric and fuel cell electric truck technologies.
Iveco Group N.V., headquartered in Turin, Italy, is a global leader in the transportation and commercial vehicle sectors, offering a wide range of products including trucks, buses, and engines.
This collaboration marks a pivotal moment in the automotive industry’s shift towards sustainable transportation solutions. By combining Hyundai Motor’s advanced electric vehicle (EV) technology with Iveco Group’s expertise in commercial vehicles, the two companies aim to accelerate the transition to a greener future in Europe’s heavy-duty truck sector.
The partnership has already yielded notable achievements, including the unveiling of the IVECO eDaily Fuel Cell Electric Vehicle at the IAA Transportation event in Hanover in September 2022. This was followed by the introduction of the IVECO BUS E-WAY H2 at Busworld in Brussels in October 2023. Most recently, in February 2024, Hyundai Motor and Iveco Group announced a supply agreement for an IVECO-badged all-electric light commercial vehicle for Europe, based on Hyundai’s eLCV platform.
Hyundai Motor Company, established in 1967, operates in more than 200 countries with a workforce of more than 120,000 employees. The company is committed to becoming a smart mobility solution provider, investing in technologies like robotics and advanced air mobility (AAM) to revolutionise mobility solutions. Hyundai is also dedicated to introducing zero-emission vehicles, leveraging its hydrogen fuel cell and electric vehicle (EV) technologies to contribute to a sustainable future.
Iveco Group N.V. encompasses eight distinct brands, each a leader in its respective field, ranging from commercial vehicles and buses to powertrain technologies and specialised defense equipment. With more than 36,000 employees worldwide, Iveco Group operates 20 industrial sites and 29 R&D centres, continuously working towards advancing a more sustainable society.
This partnership between Hyundai Motor and Iveco Group not only underscores the automotive industry’s commitment to reducing carbon emissions but also highlights the potential for collaboration to drive innovation and sustainability in the commercial vehicle sector.
