General Motors (GM) and Hyundai Motor Group announced the signing of a Memorandum of Understanding to explore potential partnerships across a myriad of automotive tech segments, including joint EV and powertrain development, manufacturing, and supply chain sourcing.
One of the world’s most prominent American automakers has announced a potential landmark partnership with one of the most innovative and promising automakers in the BEV segment today. For years, GM has proclaimed its dedication to going all-electric and has promised several new models in the works.
For quite a while, customers were left to choose between the now lame-duck Chevy Bolt or the super-expensive Hummer EV while they waited for more affordable models. But GM and its sub-brands have finally begun bringing more BEVs to market—but not without GM’s fair share of growth issues.
A glimmer of hope in affordable GM EVs has been the Chevy Equinox, which, although it arrived at a starting price higher than originally advertised, offers plenty of positives, remains one of the brand’s most affordable new models, and should sell well.
Yesterday, we learned that GM would be beginning sales of the Equinox in Korea, presumably taking its affordable EV battle to Hyundai Motor Group’s home turf. However, news shared by GM and Hyundai earlier today paints a different picture—one of (potential) collaboration in EV technology development.
Source: Hyundai Motor Group
GM, Hyundai sign potential game-changing global alliance
GM and Hyundai held a joint press conference earlier today in which executives from both parties signed a Memorandum of Understanding (MoU) to “immediately” begin exploring paths for collaboration through a “global alliance.”
According to the automakers, the goal of the MoU is to investigate joint product development, manufacturing, and future clean energy technologies, including the co-development of passenger and commercial BEV models and powertrains.
GM and Hyundai will look to capitalize on their respective strengths and scales in order to cut costs and bring more new models to the public faster. Per GM CEO and chair Mary Barra:
GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently.
In addition to EV development, GM and Hyundai said they will also explore avenues in which they can combine supply chain sources of things like battery raw materials, steel, and other components. Hyundai Motor Group executive chair, Euisun Chung, also spoke:
This partnership will enable Hyundai Motor and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies.
Per GM and Hyundai, the process of assessing potential opportunities for collaboration and their respective progression toward binding agreements will begin as soon as possible.
Electrek’s take
If it comes to fruition, this could be a home-run deal for both sides in the automotive industry. As I tend to point out often when I cover Hyundai Group on Electrek, there is arguably no other OEM doing more right now in terms of consistent innovation and quality EV deliveries.
They just seem to get it right every time. I think a lot of this early success can be traced back to Hyundai, beginning with 800V platforms years ago, beginning with the IONIQ 5 and Kia EV6. That platform technology was arguably not necessary at the time of its development but served as a hefty investment in the future, and it’s paid off tenfold so far.
Unlike Hyundai Motor Group, GM has struggled with its Ultium platform in terms of efficiency and has had to load up its current BEV models with huge battery packs to deliver a competitive range. Larger batteries equal higher costs to consumers, so GM’s pricing has gone up. Many of its available models are more premium and priced as such against vehicles from Rivian, Lucid, and Mercedes. I would personally take a Rivian over any GM electric truck, and much of the market has agreed.
With help from Hyundai, GM could fix some of its architectural woes and bring down supply chain costs, thus delivering more of the affordable BEV models it has been promising for five years now. On the other side of the table, Hyundai, which remains a much smaller OEM than GM on a global scale, could gain access to the American automaker’s manufacturing and distribution prowess and cash in on some of GM’s fame.
If this MoU solidifies into genuine partnerships, it would be a win-win for everyone. I’m excited to see what these two can create together.
Bojangles, the North Carolina-based chain known for its fried chicken and biscuits, is joining the growing list of fast food chains installing EV chargers in their parking lots.
The restaurant chain is working with Smart Big Box, Alyath EV, and Energy and Environmental Design Services to install turnkey EV charging stations at a “wide range” of its 800 restaurants, which are concentrated heavily in the southeast US. The rollout starts in late 2025, with most chargers expected to be available by sometime in 2026.
Each Bojangles location getting EV chargers will offer at least four ports. The stations will vary between Level 2 and DC fast chargers.
Bojangles CIO Richard Del Valle said, “Working with Alyath and Smart Big Box allows us to introduce a new convenience that aligns with evolving customer needs.”
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It’s a smart move. The charging stations will let people plug in and power up, and they’re more likely to dine at Bojangles while they’re doing so. Plus, Bojangles will get a reputation for having charging stations, so EV drivers will be more inclined to head toward the restaurants as a reliable power source.
Cristiane Rosul, CEO of Alyath, said the partnership “not only benefits EV drivers but also positions Bojangles as a leader in the future of quick-service dining.”
Smart Big Box has contracted with Energy and Environmental Design Services as the exclusive installer and maintenance partner for all EV chargers.
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Toyota’s electric SUV is now its cheapest vehicle to lease. After slashing lease prices again, the Toyota bZ4X is listed for lease at just $199 per month in some states. That’s even cheaper than a Corolla right now, even though it’s nearly double the price.
Toyota bZ4X is now cheaper to lease than a Corolla
The 2025 Toyota bZ4X already starts at $6,000 cheaper than the previous model year, but with a new promotion this month, it’s even more affordable.
Toyota is at it again, having cut lease prices once more this month following the Fourth of July holiday. The 2025 Toyota bZ4X XLE is now listed at just $199 per month for 36 months. With $3,999 due at signing, you’ll end up paying an effective cost of $310 per month.
The offer is $42 less than before the new promo, or about a 12% price cut. It’s hard enough to find any lease nowadays around $300, but for an electric SUV, it’s a pretty good deal.
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According to online auto research firm CarsDirect, it’s even cheaper to lease a bZ4X now in some states than a Toyota Corolla. The 2025 Corolla LE Sedan is available for $229 for 36 months. With $2,999 due at signing, the effective monthly rate is $312, or $2 more than the bZ4X.
2025 Toyota bZ4X Limited AWD Supersonic Red (Source: Toyota)
Although $2 might not seem like much in the grand scheme of things, it’s pretty significant, given that the bZ4X is $16,000 more expensive.
The 2025 Toyota bZ4X XLE has an MSRP of $38,465, compared to the Corolla LE Sedan, which starts at $22,325. That’s a $16,140 cost difference alone.
2025 Toyota bZ4X Limited AWD interior (Source: Toyota)
Toyota’s electric SUV is slightly longer than a RAV4 at 184.6″ in length, but it has a longer wheelbase, which opens up more interior space.
Toyota is also throwing in a free year of unlimited charging (at EV-go-operated public charging stations) for those who buy or lease a new 2025 bZ4X. You can also add a ChargePoint home charger to the cost.
Although the bZ4X is available for just $199 per month, the 2025 Hyundai IONIQ 5 is listed at $179 nationwide this month. With more range, style, and an NACS port for charging at Tesla Superchargers, the 2025 IONIQ 5 offer is hard to pass up right now.
2025 Toyota bZ4X trim
Starting Price (excluding $1,395 DPH fee)
Price reduction (vs 2024MY)
Range (mi)
XLE FWD
$37,070
-$6,000
252
XLE AWD
$39,150
-$6,000
228
Limited FWD
$41,800
-$5,380
236
Limited AWD
$43,880
-$5,380
222
Nightshade
$40,420
N/A
222
2025 Toyota bZ4X prices and range by trim
Like many carmakers, Toyota is currently offering significant incentives on electric vehicles, with the federal tax credit set to expire at the end of September. Accordingly, Toyota’s promotion ends on September 30. Although the bZ4X doesn’t qualify for the credit through purchase, Toyota is passing it on through leasing.
In some areas, like LA, Toyota is currently offering $12,000 off bZ4X leases. With the loss of the tax credit, the savings would drop to just $4,500, which would add over $100 a month to the lease price.
Transport Canada has finished its investigation into Tesla’s questionable filing of $43 million worth of EV incentives in a single day, finding that the claims did indeed represent cars sold before the deadline to file for incentives – still raising questions about disorganization within Tesla.
To recap, Canada suddenly sunsetted its electric vehicle incentives back in January, as the program ran out of money. It caught a lot of EV dealers by surprise, and there was a sudden rush to sell cars and to file for incentives, given that the end of the program was announced with just three days notice.
One of these dealerships that showed a rush was a single Tesla dealership in Quebec, which recorded 4,000 rebate requests in a single weekend, an impossible number at the relatively small location. Other Tesla locations also filed for suspiciously high numbers of incentive claims on the same weekend.
This raised alarm bells, and other Canadian auto dealers pointed it out to Transport Canada, with Huw WIlliams, head of the Canadian Auto Dealers Association (CADA) claiming that Tesla “gamed the system” to hog an illegitimate number of incentive claims out of the limited money left. The total amount was $43 million, which was more than half of the amount left in the Canadian government’s coffers.
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Even accounting for Tesla delivery pushes, and for increased sales as the credit rapidly sunset, these numbers did not seem possible.
This – perhaps combined with Tesla’s unpopular position in Canada at the time given CEO Elon Musk’s participation in a US government which was attacking Canada’s sovereignty at the time – led to Transport Canada announcing an investigation into Tesla’s incentive claims (Canadian Transport Minister Chrystia Freeland even said at the time that future Canadian ZEV incentives should exclude Tesla until the US’ “illegitimate and illegal” tariffs were lifted).
Tesla responded to the investigation in a typically standoffish manner, claiming in a letter that it was “shocked” to hear about the investigation, threatening legal action if payments weren’t resumed, and blaming Transport Canada for causing Tesla’s negative public perception and exposing Tesla’s Canadian employees to harassment (the letter did not, however, mention anything about CEO Musk’s government activities, or his recent actions attempting to spread white supremacy around the globe, and how those are much more responsible for negative public perception of the company).
Well now, the result of that investigation is back, and Freeland said on Friday that Tesla’s claims “were determined to legitimately represent cars sold before January 12.”
Transport Canada also pledged to CADA that all cars delivered before January 12 will have their incentive claims fulfilled, regardless of the program’s budget. CADA estimates it’s owed around $11 million in past-due claims, and Williams still wonders how Tesla knew to file those claims so suddenly.
Electrek’s Take
Questions still remain about this incentive. As pointed out by the Canadian Press, it’s still not clear whether Tesla’s incentive claims were for cars sold on that weekend, or for cars sold prior to that weekend and delivered all in a lump.
Given the physical limitations of the locations involved, it’s likely the latter. Which raises a different kind of alarm bell: that of disorganization within Tesla, as I pointed out as my main concern over this situation in a previous article.
I just don’t see how Tesla Canada can justify leaving tens of millions of dollars on the table for potentially several months, when all it took was the filing of some pieces of paper for them to get it. That’s capital that Tesla could have used to do business, and letting it sit in someone else’s bank account doesn’t benefit Tesla at all.
Now, disorganization is nothing new for Tesla, but businesses usually don’t like leaving money laying around for no reason. And Tesla, with its focus on quarterly results and end-of-quarter pushes, surely would have enjoyed having that extra cash in December, the end of a fiscal quarter/year, rather than the beginning of January when they filed for these incentives.
So regardless of the now proven legitimacy of these claims, this aspect should be cause for some amount of concern. It’s a reflection of a longtime problem in Tesla, where things tend to fall through the cracks until there’s some sort of emergency, and then it’s all-hands-on-deck from whoever happens to be closest to the problem at the time. But this has been an issue within Tesla for so long that it’s hard to see it being fixed at this point – and certainly not under its longtime CEO who seems far more interested in using Tesla to bail out his private companies or turning Twitter into “MechaHitler” than on making actual good decisions for Tesla.
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