07:06 AM EST, 01/23/2025 (MT Newswires) -- General Motors ( GM ) is in talks to sign binding contracts with Hyundai Motor to collaborate in several areas, multiple outlets reported Thursday, citing Hyundai's earnings conference call.

The collaboration includes joint procurement of vehicle parts as well as seeking cooperation in commercial and passenger vehicle businesses, these reports said.

The companies are negotiating for Hyundai Motor to supply commercial electric vehicles to General Motors ( GM ), with Hyundai expecting sales growth to halve this year, Reuters reported.

General Motors ( GM ) did not immediately respond to requests for comment from MT Newswires.