Hyundai Motor, DaimlerChrysler and Mitsubishi Motors are to jointly develop and purchase automotive parts worth $US13 billion, the Korea Economic Daily reported today (Friday), according to Reuters.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Reuters said the early Saturday edition of the newspaper quoted an unnamed Hyundai official as saying “The joint purchase is to bolster partnerships between the automakers.”

Citing the newspaper, Reuters said the amount exceeds the $11.1 billion of annual purchases made by General Motors and the $9.8 billion spent by Ford.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now