A supply agreement has been reached between two major vehicle manufacturers as Hyundai and Iveco join forces. An Iveco-badged all-electric light commercial vehicle will become available in Europe, based on Hyundai’s eLCV.
The new vehicle will join Iveco Group’s electric light commercial vehicle lineup, enhancing its LCV portfolio alongside the widely sold Iveco Daily.
There was an agreement ceremony, held at Hyundai’s Seoul headquarters, which was attended by Jaehoon Chang, President and CEO of Hyundai Motor Company, Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle & Hydrogen Business at Hyundai Motor Company, Gerrit Marx, CEO of Iveco Group, and Luca Sra, President, Truck Business Unit, Iveco Group.
Luca Sra says that the agreement is an exciting move for both companies.
“The unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward,” he says.
“The introduction of this new all-electric vehicle is particularly exciting for the European market, where urban and suburban distribution and delivery are crucial missions for logistics operators.
“We are confident that this agreement will not only strengthen our product offering but will also deepen our relationship with Hyundai, paving the way for continued collaborative projects that advance a more sustainable society.”
Hyundai and Iveco have been working in partnership since 2022, in which time they have developed and distributed a number of hydrogen-powered vehicles. This included the co-development of the eDaily FCEV and the launch of the E-Way FCEV city bus.
Under the partnership, Hyundai will manufacture and supply the Iveco-badged chassis cab for the European market and Iveco Group will locally customise and distribute the complete vehicles exclusively through its sales channels.
Iveco Group’s new product based on Hyundai’s Global eLCV platform will have its launch at this year’s IAA Transportation 2024, planned to be held from September 16–22, 2024, in Hannover, Germany.
“We are delighted to further expand our partnership’s product portfolio by leveraging our new, all-electric light commercial vehicle platform,” says Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle & Hydrogen Business at Hyundai Motor Company.
“We believe our Global eLCV platform, coupled with Iveco Group’s expertise in the European market, will be a transformative force in the LCV market, contributing to the acceleration of a carbon-neutral future in Europe.”