Hyundai and Iveco sign LOI to advance electric truck collaboration

Hyundai Motor Company and Iveco Group have signed a Letter of Intent (LOI) to strengthen their partnership, focusing on electric heavy-duty truck solutions, including both battery electric and fuel cell electric trucks for the European market. Since their partnership began in March 2022, Hyundai and Iveco have achieved several important milestones. In September 2022, they unveiled the first IVECO eDaily fuel cell electric vehicle at the IAA show in Hannover. This was followed by IVECO BUS showcasing the E-WAY H2 at Busworld in Brussels in October 2023. More recently, in February of this year, the two companies announced a supply agreement for an all-electric light commercial vehicle under the IVECO brand, based on Hyundai's eLCV platform.