Hyundai Motor, Iveco sign MoU to explore future collaborations

Italian truck, bus and engine maker Iveco group said on Monday it had signed a memorandum of understanding (MoU) with Hyundai Motor Company  on March 4 to explore possible collaborations on shared vehicle technology, joint sourcing and mutual supply.

The MoU is a preliminary step in assessing potential cooperations in technology and platforms, encompassing components and systems, the group added in a statement.

The areas of possible mutual interest are electric powertrains and platforms such as fuel-cell systems, vehicle automation and connectivity for commercial vehicles.