Hyundai Motor Company and Iveco Group have agreed to produce an Iveco-badged all-electric light commercial vehicle for Europe, which will be built on Hyundai’s Global eLCV platform. The new vehicle will join Iveco Group’s electric light commercial vehicle inventory, complementing the legendary Iveco Daily.
The supply agreement was signed at Hyundai Motor Company’s headquarters in Seoul, South Korea, attended by Jaehoon Chang, President and CEO, Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle & Hydrogen Business, Gerrit Marx, CEO of Iveco Group, and Luca Sra, President, Truck Business Unit, Iveco Group.
Hyundai Motor and Iveco Group began their collaboration in March 2022 and have since produced tangible successes in hydrogen-powered commercial vehicles, including the co-development of the eDaily FCEV and the debut of the E-Way FCEV city bus. The new arrangement not only expands their relationship to include a greater range of eco-friendly lines, but also demonstrates both firms’ shared commitment to accelerating the transition to carbon-neutral mobility and transportation.
The Iveco-badged vehicle will be the first export model to use Hyundai’s new worldwide all-electric Light Commercial Vehicle (eLCV) platform, which is designed specifically for commercial trucks with GVWs ranging from 2.5 to 3.5 tonnes. The unique platform incorporates Hyundai’s cutting-edge technology for next-generation BEVs, as well as a low-floor design that improves cargo loading and hauling, and is tailored to the market’s rising electric Purpose Built Vehicle demands.
Under the partnership, Hyundai will manufacture and supply the Iveco-badged chassis cab for the European market and Iveco Group will locally customize and distribute the complete vehicles exclusively through its sales channels. Iveco Group’s new product based on Hyundai’s Global eLCV platform will have its launch at this year’s IAA Transportation 2024, planned to be held from September 16 – 22, 2024, in Hannover, Germany.
Luca Sra, President, Truck Business Unit, Iveco Group, said, “The unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward. The introduction of this new all-electric vehicle is particularly exciting for the European market, where urban and suburban distribution and delivery are crucial missions for logistics operators.”
Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle & Hydrogen Business at Hyundai Motor Company, said, “We are delighted to further expand our partnership’s product portfolio by leveraging our new, all-electric light commercial vehicle platform. We believe our Global eLCV platform, coupled with Iveco Group’s expertise in the European market, will be a transformative force in the LCV market, contributing to the acceleration of a carbon-neutral future in Europe.”