Two of the world’s largest automakers are becoming closer friends, we learned this morning. Hyundai Motor Group and General Motors, which together sold 13.5 million cars last year, have decided to try and collaborate in a range of areas in the coming years, including vehicle design, technology development, and even supply chain sourcing.

GM is one of the world’s oldest and most established automakers and has a long legacy of clever engineering solutions, albeit one often hamstrung by corporate decision-making.

Meanwhile, GM was just a year from its 60th birthday when HMG got going, and while the Korean automaker was not taken particularly seriously in the US as a budget brand at launch, over the last 15 years its products have been class-leading, especially its electric vehicles.

With the agreement signed, the two companies say they will immediately start looking for opportunities to work together, including jointly developing and producing new passenger and commercial vehicles, new internal combustion engines, and also new electric powertrains, whether those be battery- or hydrogen-powered.