You know times are tough in the automotive industry when more and more car companies are eager to collaborate. Hyundai just signed a Memorandum of Understanding with General Motors to potentially develop and build cars together . It seems that the Korean brand is still looking for partners.
An interesting new report claims a Toyota-Hyundai partnership could be brewing, according to undisclosed sources cited by The Korea Economic Daily . The meeting is scheduled to take place at the end of October when Toyota chairman Akio Toyoda will fly to Seoul. It is believed the former President and CEO of the world's largest automaker will be visiting South Korea following an invitation from Euisun Chung, Hyundai's chairman.
The report quotes a diplomatic source saying: "Chairman Chung expressed his desire to meet with Chairman Toyoda earlier this year, and Toyoda accepted it.” Hyundai chairman Euisun Chung Akio Toyoda will allegedly arrive in Seoul on October 24, but the meeting is programmed for the following day. Toyota's chairman is likely to fly home on October 26.
Meanwhile, the company's Korean division is said to be putting the finishing touches on the chairman's schedule for the three-day trip. What will they be talking about? The Korea Economic Daily has heard through the grapevine that hydrogen will be the main theme. Hyundai and Toyota could work together to speed up the development of fuel cell vehicles and work on setting up a "hydrogen ecosystem.
" It remains to be seen w.