GM and Hyundai to ‘immediately’ explore partnerships in EV development and supply chains
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.
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.
The US wind industry installed just 5.2 gigawatts (GW) in 2024 – the lowest level in a decade, according to Wood Mackenzie’s new US Wind Energy Monitor report. Installations are expected to rebound in 2025, but the real concern lies in US wind’s sharply downgraded 5-year outlook. As for the reason behind that bleak forecast, we’ll give you one guess as to why, and it starts with a T.
Wood Mac reports that 3.9 GW of onshore wind came online last year, along with 1.3 GW of onshore repowers and 101 megawatts (MW) of offshore wind.
Onshore wind
The US is expected to achieve more than 160 GW of installed onshore capacity by 2025, and onshore growth is projected to bounce back from 2024 and surpass 6.3 GW this year.
“The cliff in 2023 and 2024 created by the Production Tax Credit (PTC) push in 2022 will come to an end,” said Stephen Maldonado, research analyst at Wood Mackenzie. “Despite the uncertainty created by the new administration, the massive number of orders placed in 2023 culminating in projects now under construction support the short-term forecast.”
The pipeline for onshore has 10.8 GW currently under construction through 2027, with another 3.9 GW announced.
GE Vernova led onshore wind installations in 2024 with 56% of the market and will continue to lead in connections for the next five years. It was followed by Vestas (40%) and Siemens Gamesa (4%).
Offshore wind
Offshore wind is projected to increase in 2025 as well, with 900 MW of installed capacity, up from a disappointing 101 MW in 2024. However, several projects have been shelved in the wake of Trump’s anti-wind executive orders, which downgraded the five-year outlook by 1.8 GW.
Electrek’s Take on US wind’s 5-year outlook
According to Wood Mac, 33 GW of new onshore wind capacity will be installed through 2029, along with 6.6 GW of new offshore capacity and 5.5 GW of repowers. However, due to Trump’s anti-wind policy and economic uncertainty, this five-year outlook is 40% less than a previous total of 75.8 GW. Growth will happen, but it’s going to be slower.
The main reason is Trump’s flourish of his Sharpie on executive orders that include “temporary” withdrawal of offshore wind leasing areas and putting a stop to onshore wind on federal lands. Plus, firing all those federal employees will likely make permitting wind farms a slower process. (Trump just wrote more executive orders today allowing coal projects on federal lands; he won’t have federal employees to issue permits for those, either.) He’s worked to throw up obstacles for wind projects in favor of fossil fuels. He won’t stop the wind industry, but he’s managed to get some projects canceled, and he’ll make things more of a slog over the next few years.
Read more: Coal is dead and Trump’s executive order won’t revive it
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BYD’s cheapest EV in China just got even more affordable. After cutting prices this month, the BYD Seagull EV starts at just 56,800 yuan, or under $8,000.
BYD cuts Seagull EV price to under $8,000 in April
Despite an intensifying EV price war in China, BYD is cutting prices once again. The Chinese EV giant announced a new promotion this month across several Ocean Series models, including the Seagull.
The 2025 BYD Seagull EV is available starting at just 56,800 yuan ($7,800). The offer is for the non-Smart Driving Vitality Edition model, which usually starts at 69,800 yuan ($9,500).
After launching the new Seagull last year, BYD said the low-cost electric car officially opened “a new era of electricity being lower than oil.” Earlier this year, it upgraded most of its vehicles, including the Seagull, with its new “God’s Eye” smart driving system at no extra charge.
BYD’s Seagull is offered in three trims in China: Vitality, Freedom, and Flying. It has two battery options, 30.1 kWh or 38.9 kWh, which is good for the 305 km (190 mi) and 405 km (252 mi) CLTC range, respectively.
At just 3,780 mm long, 1,715 mm wide, and 1,540 mm tall, the Seagull is even smaller than the former Chevy Bolt EV (4,145 mm long, 1,765 mm wide, and 1,611 mm tall). It’s about the size of a Fiat 500e.
The price cut comes as BYD’s sales continue surging. With another 377,420 new energy vehicles (EVs and PHEVs) sold last month, the Chinese automaker has now sold over one million NEVs in 2025.
BYD’s EVs accounted for 416,388 while PHEV sales reached 569,710, an increase of 39% and 76% from last year, respectively.
| BYD Seagull EV trim | Starting Price | Range (CLTC) |
| Vitality | Normal: $9,500 (69,800 yuan) Now: $8,000 (56,800 yuan) |
190 mi (305 km) |
| Freedom | $10,300 (75,800 yuan) | 190 mi (305 km) |
| Flying | $11,700 (85,800 yuan) | 252 mi (405 km) |
Perhaps even more importantly, BYD sold over 206,000 vehicles overseas in 2025, more than doubling from last year. The Seagull EV is also sold in other global markets like Mexico and Brazil as the Dolphin Mini.
Later this year, it will launch in Europe as the Dolphin Surf, with expected prices starting under £20,000 ($26,000). Although it may not be the cheapest EV, BYD’s executive vice president, Stella Li, recently told Autocar it will be “the best value” when it arrives.
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Tesla has new Model Y inventory available today in the US, just days after opening orders for what is supposed to be its most popular model.
This proves that demand is terrible and Tesla is trying to hide it.
On Friday, Tesla launched the new non-Launch Edition Model Y in North America.
Prior to the launch, only a fully loaded $60,000 Launch Edition Model Y was available to order since January, and had been delivered since early March.
Now, North American buyers are able to buy a much cheaper version of the new Model Y for $49,000.
Only the Model Y Long Range AWD is available for now, but that’s Tesla’s most popular model in North America.
At the time, we noted that this is a great demand test for Tesla in the US amid some critical brand issues due to CEO Elon Musk.
We only have a few metrics to track the demand of the new Model Y in the US:
- Delivery timelines on new orders
- Available inventory
- Discounts/incentives
For most US zip codes tested by Electrek with different Model Y configurations (wheels and paint colors), Tesla quotes delivery within “1-3 weeks”.
But we also found several zip codes on both the West Coast and the East Coast where Tesla claims it can deliver the new vehicle “today”:
This would point to Tesla already having vehicles in inventory despite launching it just 4 days ago.
But Tesla is hiding the inventory.
If you search for Model Y in Tesla’s new inventory, you can’t find any in the US at the time of writing:
However, Tesla is showing some units in inventory to people configuring new Model Ys.
Some potential buyers are reporting that Tesla has a tab that pops up and directs them to some new inventory available (via TroyTeslike on Patreon):
This confirms that Tesla already has new non-Launch Edition Model Y in inventory available for sale in the US – pointing to Tesla having no backlog of demand for the new vehicle.
Electrek’s Take
This is much worse than I thought. I thought that Tesla would build a backlog of demand for the new Model Y in the US from people who didn’t want the fully loaded version, but it looks like that backlog lasted 4 days.
Of course, it’s all because of Tesla and Elon, and brand destruction.
Many people who invested in the stock market lost a lot of money over the last few weeks, and these people often happen to be people who buy new cars.
Now, the only thing left is for Tesla to start offering discounts and subsidies financing – the latter likely coming first, as it is already the case with new Model 3 orders in the US.
The good news for Tesla is that if Trump continues to crash the stock market, the Fed will likely have to reduce rates, making Tesla’s 0% financing cheaper to subsidize.
That’s a fun balancing act.
Either way, I wouldn’t be surprised to see Tesla offer incentives on the new Model Y in the US within the next 2 weeks – way ahead of schedule.
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