Hyundai and Iveco join forces on electric LCV

HYUNDAI Motor Company (HMC) will supply an all-electric light commercial vehicle from its global eLCV (electric light commercial vehicle) platform to Europe’s Iveco Group.

The duo signed a supply agreement for an Iveco-badged all-electric light commercial vehicle to be sold on the European market, the model expected to supplement Iveco’s existing LCV portfolio, including the strong-selling Iveco Daily that recently gained a battery electric ‘eDaily’ variant.

It exends a partnership initiated almost two years ago, under which HMC and Stellantis-owned Iveco Group have generated what the pair say are “concrete results related to hydrogen-powered commercial vehicles”, including the development of the eDaily FCEV and the launched of the e-Way FCEV city bus.

The latest supply agreement not only signifies an extension of this partnership, but the creation of a broader array of eco-friendly model lines aimed at accelerating both manufacturer’s commitment to carbon-neutral mobility and transport.

HMC president and CEO Jaehoon Chang, HMC executive vice president and head of global commercial vehicle and hydrogen business Ken Ramirez, Iveco Group CEO Gerrit Marx, and Iveco Group truck business unit president Luca Sra took part in the supply agreement signing ceremony in Seoul, South Korea, 

In a statement, the pair said the Iveco-badged vehicle will be the first export model to apply Hyundai’s new eLCV platform and will enter the market as a dedicated electric commercial vehicle with a GVM of 2500-3500kg, a low-floor design and “designed to fit the emerging needs of future purpose-built vehicles in the market”.

Under the partnership, Hyundai will manufacture and supply the Iveco-badged cab-chassis for the European market while the Iveco Group will locally customise and distribute the complete vehicles exclusively through its sales channels.

The model will be launched later this year at the IAA Transportation 2024 exhibition, planned to be held from September 16 - 22, 2024, in Hanover, Germany.

“The unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward,” said Mr Sra.

“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.

“We are confident that this agreement will not only strengthen our product offering but will also deepen our relationship with Hyundai, paving the way for continued collaborative projects that advance a more sustainable society.”

Echoing these sentiments, Mr Ramirez said the new model is a transformative part of the eLCV puzzle.

“We are delighted to further expand our partnership’s product portfolio by leveraging our new, all-electric light commercial vehicle platform,” he said.

“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.”