Hyundai Motor Company and Iveco Group have inked a deal to introduce an all-electric light commercial vehicle (LCV) in Europe, signalling a broader collaboration beyond their previous hydrogen-powered initiatives, the companies said in a press release.

The IVECO-badged LCV, built upon Hyundai’s Global eLCV platform, is poised to bolster Iveco Group’s LCV portfolio and contribute to the advancement of eco-friendly transportation.

The agreement, formalised at a signing ceremony held at Hyundai Motor Company’s headquarters in Seoul, South Korea, was attended by key executives, including Jaehoon Chang, President and CEO of Hyundai Motor Company, Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle & Hydrogen Business at Hyundai Motor Company, Gerrit Marx, CEO of Iveco Group, and Luca Sra, President, Truck Business Unit, Iveco Group.

From left to right: Jaehoon Chang, President & CEO HMC; Gerrit Marx, CEO Iveco Group; Ken Ramirez, EVP & Head Global CV HMC; Luca Sra, President Truck BU IVG.

Having initiated their partnership in March 2022, the collaboration has yielded tangible results in hydrogen-powered commercial vehicles, such as the co-developed eDAILY FCEV and the E-WAY FCEV city bus.

This latest agreement expands their collaboration to include a broader range of eco-friendly offerings, reinforcing both companies’ commitment to accelerating the transition to carbon-neutral mobility and transport.

The all-electric LCV will be the first export model to utilize Hyundai’s new Global eLCV platform, designed specifically for commercial vehicles with a gross vehicle weight (GVW) ranging from 2.5 to 3.5 tons.

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The platform incorporates Hyundai’s latest battery electric vehicle (BEV) technology, featuring a low-floor design to enhance cargo loading and carrying capabilities, catering to the evolving needs of future electrified Purpose Built Vehicles.

Under the partnership terms, Hyundai will manufacture and supply the IVECO-badged chassis cab for the European market. Iveco Group will then handle local customisation and distribution, exclusively through its sales channels.

The new IVECO-badged vehicle is scheduled to make its debut at the IAA Transportation 2024 event in Hannover, Germany, from September 16 to 22, 2024.

Luca Sra, President of the Truck Business Unit at Iveco Group expressed excitement about the collaboration’s progress, emphasising the importance of the new all-electric vehicle for urban and suburban distribution missions in the European market. Ken Ramírez, Executive Vice President at Hyundai Motor Company, echoed this sentiment, highlighting the transformative potential of the Global eLCV platform coupled with Iveco Group’s expertise.

The partnership between Hyundai Motor Company and Iveco Group demonstrates a commitment to providing sustainable solutions in a rapidly evolving automotive landscape. As the industry moves towards a carbon-neutral future, this collaboration aims to play a pivotal role in shaping the future of electric commercial vehicles in Europe.