Hyundai Motor Company and Iveco Group have signed a supply agreement of an Iveco-badged all-electric light commercial vehicle (eLCV) for Europe, based on Hyundai’s global platform.
The new vehicle will join Iveco Group’s electric light commercial vehicle line-up, enhancing the Group’s LCV portfolio alongside the Iveco Daily.
The supply agreement signing ceremony, which took place at Hyundai Motor Company’s headquarters in Seoul, South Korea, was attended by Hyundai president and chief executive Jaehoon Chang, Hyundai commercial vehicle and hydrogen business executive vice president and global head Ken Ramírez, Iveco truck business president Luca Sra and Iveco chief executive Gerrit Marx.
Hyundai and Iveco initiated their partnership in March 2022 and have since made progress on hydrogen-powered commercial vehicles, including the co-development of the eDaily FCEV and the launch of the E-Way FCEV city bus.
The Iveco-badged vehicle will be the first export model to apply Hyundai’s new global all-electric light commercial vehicle (eLCV) platform, a dedicated global EV platform made for commercial vehicles ranging from GVW 2.5 tons to 3.5 tons.
The innovative platform features Hyundai’s latest technology for next generation BEVs with a low-floor design that allows enhanced usability for cargo loading and carrying.
Under the partnership, Hyundai will manufacture and supply the Iveco-badged chassis cab for the European market and Iveco Group will locally customise and distribute the complete vehicles exclusively through its sales channels.
Iveco’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 in Hannover, Germany.
“The unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward,” Iveco truck business unit president Luca Sra says.
“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.”
Ken Ramírez, executive vice president and head of global commercial vehicle and hydrogen business at Hyundai, commented on the deal:
“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,” Ramírez says.
