Two of the top-selling EV brands in the US are teaming up to overcome an uncertain market in 2025. Hyundai confirmed on Thursday that it’s nearing a deal with GM that would include re-badging EV models. Here’s what to expect.
After announcing its fourth quarter 2024 financials, Hyundai confirmed it was nearing a deal to sell commercial EVs to GM.
“We are considering re-badging our commercial EVs and supplying GM,” Hyundai’s CFO, Lee Seung Jo, said on a conference call (via Reuters) Thursday. Lee added the deal would pave the way for our entry into the North American commercial vehicle market.”
The partnership comes amid new uncertainty under US President Donald Trump’s control. Trump already eliminated the EV “mandate,” which never existed in the first place.
He also threatened to end the $7,500 federal EV tax credit, which would only put the US further behind China’s surging global presence.
Earlier this week, Trump even said he was considering imposing a 25% tariff on two of the US’s biggest trade partners, Canada and Mexico. Hyundai said shifting policies under Trump could hurt US sales. However, the company expects less impact than Japanese rivals like Toyota and Honda.
Chevy Equinox EV LT (Source: GM)
What the Hyundai EV supply deal with GM would involve
Le explained that Hyundai expects “more business uncertainties this year than ever before” with expected policy changes in the US, North Korea, and Europe.
Hyundai began production at its $7.6 billion EV plant in Georgia last October, the largest economic project the state has ever seen.
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai announced new EVs made at the facility, including the updated 2025 IONIQ 5, would qualify for the $7,500 US tax credit, the DOE removed the company’s electric cars last week. The company said on Thursday it plans to expand US production to soften the blow of changing tariffs. Hyundai will also add hybrid output to the mix in Georgia.
Hyundai and GM signed an MoU last September with plans to explore joint EV powertrain, tech development, manufacturing, and more.
2026 Hyundai IONIQ 9 (Source: Hyundai)
The Korean automaker confirmed on Thursday that it plans to sign binding contracts for passenger and commercial vehicles by the first quarter of 2025.
Although no other details were offered, a report from Korean media Pulse claimed GM CEO Mary Barra met with Hyundai Chairman Euisun Chung last November to discuss jointly developing a pickup truck. The report said plans included “badge engineering,” where Hyundai EV models would be sold under the GM name or vice versa.
Hyundai ST1 EV business platform (Source: Hyundai Motor)
Hyundai launched the ST1 electric business van platform last March, which would likely be the basis for GM’s commercial EV.
The platform is “tailored to various purposes,” including delivery, logistics, and more. It offers a refrigerated van and chassis cab option.
Electrek’s Take
Although Hyundai is coming off its fourth-record retail sales year in the US, like all automakers, it’s bracing for changes in 2025.
According to Cox Automotive, Hyundai and GM had some of the highest EV sales growth in the US, behind Honda and Ford.
Hyundai Motor Group, including Kia and Genesis, sold more EVs than GM and Ford in the US last year, with over 120,000 units. A new partnership to supply commercial EVs to GM would help the Korean automaker further expand in its most important market.
Meanwhile, GM only sold 1,529 Brightdrop commercial electric vans in the US last year, far fewer than the Ford E-Transit (12,610) and Rivian EDV (13,243).
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Aviation startup ZeroAvia says it’s been granted a “raft” of 45 new patents key to the development of practical large hydrogen aviation engines – and the company says it has 200 more H-related patents in the pipeline!
The news comes just weeks after ZeroAvia and Scottish regional airline Loganair announced a new, hydrogen-electric “turboprop” replacement motor capable of up to 5MW of shaft horsepower (~6,700 hp). United States Patent and Trademark Office (USPTO) no. 12,341,225 covers an integrated hydrogen-electric engine design land is key to the development of a modular multi-MW hydrogen-electric engine for the ATR 42 and 72 model aircraft — which Loganair owns more than twenty of.
ATR isn’t the only potential customer ZerAvia is eyeballing, either. Despite hydrogen losing ground on utility-scale projects and more companies realizing that it’s “impossible” for hydrogen to compete as a transportation fuel, the fuel still seems to have some practical application in the aviation space. Both Airbus and Boeing have advanced plans and IP for hydrogen-ready airframes in recent weeks, as well, making the IP for large hydrogen-powered aviation engines that much more valuable.
“Recent patents filed and granted around hydrogen aviation give a window into an accelerating field of innovation,” explains Val Miftakhov, Founder and CEO, ZeroAvia. “As we see the large airframe manufacturers beginning to compete on technologies for hydrogen aircraft, there is a big opportunity for companies pioneering hydrogen propulsion systems. These are the inventions that will deliver truly clean, more affordable and highly efficient commercial air travel.”
Importantly, these novel engines promise cost reductions for airlines. The substantially lower maintenance needs of hydrogen-electric engines will mean a decrease in maintenance and downtime for an airline’s fleet, with hydrogen fuel also projected to be significantly more cost effective than kerosene over time.
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You might want to hold onto your handlebars for this one – literally. The fashion-forward British electric scooter maker Bo just unveiled what could be the most extreme electric scooter the world has ever seen. Named The Turbo, this standing e-scooter isn’t just playing around with speed – it’s aiming to smash right through it and find out what’s waiting on the other side.
And it all begs the question, “How much is too much?”
When we talk about fast electric scooters, we’re usually in the neighborhood of 50 mph (80 km/h). But the Bo Turbo doubles those numbers.
With 100 mph+ (160+ km/h) top speeds and claimed acceleration that’s faster than a Tesla, this scooter seems to use a design philosophy pulled straight from the playbook of Formula One. Thus, it should come as no surprise that the team behind The Turbo includes engineers with experience from Williams F1 and the Bloodhound Land Speed Record rocket car.
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Bo Turbo looks at home in the Bo-nnevile salt flats
The world’s fastest e-scooter?
Built on the same base chassis as the company’s sleek road-going Bo Model-M, The Turbo takes everything up a notch – actually, several notches. It features a 24,000 W dual-motor powertrain, 1,800 Wh battery, advanced traction control, and a power-to-weight ratio that reportedly beats a Bugatti Veyron.
At full power, the system is capable of propelling riders down a straightaway at three-digit speeds while standing upright. It’s absurd. It’s glorious. It’s gratuitous. It’s a dream. Or it’s a nightmare.
Bo says the machine is already delivering 85+ mph (137+ km/h) in early track testing at Goodwood Motor Circuit and is currently in development to push beyond the 100 mph barrier under Guinness World Record supervision.
And just in case you’re wondering if this is some experimental prototype cooked up in a lab – it’s not. The company is planning a limited run of built-to-order Turbo scooters, starting at a whopping $29,500. The first one is scheduled for delivery to a collector in Madrid during the 2026 Formula One race weekend.
The Bo Turbo shares the same chassis as the more mild-mannered Bo M scooter
From F1 brake ducts to street scooter DNA
Despite the headline-grabbing speed numbers, there’s a ton of serious engineering going on here. The Turbo uses ram-air intakes based on F1 brake cooling designs to keep the motors and controllers from overheating. The chassis – made from aerospace-grade aluminum and CNC-machined billet parts – is based on Bo’s proven Monocurve platform, the same structure that underpins the Bo Model-M. In fact, that might be the most impressive part of all, that the same chassis used underneath their everyday-ride-it-to-work Bo Model-M scooter is also holding together this 100 mph beast.
Bo’s team insists that despite the monster specs, The Turbo remains “surprisingly rideable.” Professional BMX rider Tre Whyte has piloted over 20 high-speed test runs, with the team now preparing to push the envelope even further.
A wild PR stunt – or something more?
It’s tempting to see The Turbo as just a headline machine (and hey, it works), but Bo says this project is about more than just chasing speed records. According to Bo CEO Oscar Morgan, “The Turbo is part of our mission to elevate these futuristic electric vehicles into the top tier of automotive performance.”
And honestly, they’ve got a point. E-scooters have exploded in popularity as low-speed urban vehicles, but the category rarely gets taken seriously in the performance world, despite the advent of racing leagues. Bo wants to change that – and they’re using motorsport technology to do it.
Electrek’s Take
Is this a practical daily rider? Absolutely not. But that’s not the point.
Bo is doing what so few e-scooter companies are willing to do – pushing boundaries, proving performance, and trying to make scooters feel exciting, not just functional. Whether The Turbo hits 100 mph or not, it’s already helped raise the bar for what electric micromobility can be. And if that means they develop safer and stable ways to build scooters along the way, then all the better.
The fact that they actually plan to sell these is a bit worrying, though the $30k pricetag means the local teens on your street aren’t going to be terrorizing the sidewalks with them. Well, not unless you’ve got an oil sheikh and his teenagers living on your street.
But hey, if you’ve got thirty grand and a need for painful death levels of speed – maybe this is your next toy.
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Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana, Exxon CEO Darren Woods told CNBC’s Becky Quick on Friday.
The ruling by the International Chamber of Commerce in favor of Chevron clears the way for the oil major to complete its $53 billion acquisition of Hess Corporation.
Chevron shares jumped about 3% in premarket trading.
“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process,” Exxon said in a statement Friday.
The dispute had created significant uncertainty over whether Chevron’s acquisition of Hess would close, weighing on the oil major’s stock performance. The transaction would have failed if Exxon had prevailed.
Exxon and China National Offshore Oil Corporation had filed an arbitration case with the ICC, claiming a right of first refusal over Hess’s assets in the Stabroek Block, an oil development off the coast of Guyana.
Hess has a 30% stake in an oil patch, while Exxon leads the project with a 45% stake and CNOOC maintains 25% stake.
“We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved,” Exxon said.