Hyundai Motor Company and Iveco Group have signed a supply agreement for an IVECO-badged all-electric light commercial vehicle (eLCV) for Europe, based on Hyundai’s Global eLCV platform. The new vehicle will join Iveco’s electric light commercial vehicle lineup, enhancing its LCV portfolio alongside the IVECO Daily.
The supply agreement signing ceremony, which took place at Hyundai’s headquarters in Seoul, South Korea, was attended by Jaehoon Chang, president and CEO of Hyundai; Ken Ramírez, executive vice president and head of the Global Commercial Vehicle & Hydrogen Business at Hyundai; Gerrit Marx, CEO of Iveco; and Luca Sra, president, Truck Business Unit, Iveco.
Hyundai and Iveco initiated their partnership in March 2022 and have since generated concrete results related to hydrogen-powered commercial vehicles, including the co-development of the eDAILY fuel cell electric vehicle (FCEV) and the launch of the E-WAY FCEV city bus. The new agreement not only signifies an extension of their partnership to encompass a broader array of eco-friendly lineups, but also underscores the shared commitment of both companies to accelerate the transition toward carbon-neutral mobility and transport.
The IVECO-badged vehicle will be the first export model to apply Hyundai’s new Global eLCV platform, a dedicated global EV platform made for commercial vehicles ranging from 2.5 to 3.5 tons GVW. The platform features Hyundai’s latest technology for next-generation battery electric vehicles with a low-floor design that enhances cargo loading and carrying.
Under the partnership, Hyundai will manufacture and supply the IVECO-badged chassis cab for the European market and Iveco will locally customize and distribute the complete vehicles exclusively through its sales channels. Iveco’s new product based on Hyundai’s Global eLCV platform will be introduced at IAA Transportation 2024, scheduled for September 16–22, 2024, in Hannover, Germany.
“The unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward,” says 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.”
“We are delighted to further expand our partnership’s product portfolio by leveraging our new, all-electric light commercial vehicle platform,” says Ramírez. “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.”