According to General Motors, most of the new vehicles being jointly developed by the two companies will be for the South American market.

Of the five new vehicles, GM will lead the development of a new mid-sized truck and Hyundai will lead the development of compact vehicles and an electric van. Presumably other than the van, which is expressly described as electric, the other vehicles will have "the flexibility to use either internal combustion or hybrid propulsion systems," GM said.

The vehicles under development by the two car companies include "a compact SUV, car and pick-up, as well as a mid-size pick-up," the company said. The vehicles will all share platforms but have unique interiors and exteriors to align with each brand.

"Hyundai’s strategic collaboration with GM will help us continue to deliver value and choice to our customers across multiple vehicle segments and markets,” said José Muñoz, president and CEO of Hyundai Motor Company. “Our combined scale in North and South America helps us to more efficiently provide our customers more of what they want – beautifully designed, high-quality, safety focused vehicles with technology they appreciate.”

Speaking of North America, while four out of the five vehicles planned under the partnership are heading south, one vehicle will enter the North American market. "The electric commercial van will be manufactured in the U.S. as early as 2028," said the GM press release.

"By partnering together, GM and Hyundai will bring more choice to our customers faster, and at lower cost,” said Shilpan Amin, GM senior vice president and global chief procurement and supply chain officer said “These first co-developed vehicles clearly demonstrate how GM and Hyundai will leverage our complementary strengths and combined scale.”

The vehicles designed for the South American market are expected to launch in 2028.

The two companies expect total sales of the co-developed vehicles to reach 800,000 per year.