Hyundai Motor Company and Iveco Group have formally announced the signing of a supply agreement which will see an Iveco-badged all-electric light commercial vehicle for European markets, based on Hyundai’s Global eLCV platform.

Iveco says the new vehicle will join Iveco Group’s electric light commercial vehicle lineup, adding that it will enhance the Group’s LCV portfolio alongside its Iveco Daily.

The news comes as little surprise, given Hyundai was a part of the Iveco stand at the most recent IAA Commercial Vehicle Show in Hannover in 2022.

The supply agreement signing ceremony took place at Hyundai Motor Company’s headquarters in Seoul, South Korea, with Hyundai president and CEO, Jaehoon Chang being joined by Hyundai’s executive vice president and head of global commercial vehicle and hydrogen business  Ken Ramírez,  Iveco’s Group CEO Gerrit Marx, and  president of the Iveco truck business unit Luca Sra, for the signing.

Hyundai and Iveco initiated the partnership in March 2022 and since then they say they have generated concrete results related to hydrogen-powered commercial vehicles, including the co-development of the eDAILY FCEV and the launch of the E-WAY FCEV city bus.

The new agreement not only signifies an extension of their partnership to encompass a broader array of eco-friendly lineups, but also underscores the shared commitment of both companies to accelerate the transition toward carbon-neutral mobility and transport.

According to the statement the Iveco-badged vehicle will be the first export model to apply Hyundai’s new global all-electric Light Commercial Vehicle (eLCV) platform, which is a dedicated global EV platform made for commercial vehicles ranging from  2.5 tons to 3.5 tons GVW.

The platform is claimed to be innovative and features Hyundai’s latest technology for next generation BEVs with a low-floor design that is claimed to allow enhanced usability for cargo loading and carrying, while being designed to fit the emerging needs of future electrified purpose built vehicles in the market.

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 in Europe.

Iveco Group’s new product based on Hyundai’s global eLCV platform will have its launch at this year’s IAA Transportation 2024,  from 16-22 September , in Hannover, Germany.

Luca Sra, president, of the Iveco Truck Business Unit, said the unique partnership between Iveco Group and Hyundai Motor Company is making another significant step forward.

“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., ” said Sea.

“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,” he said.

Hyundai’s head of global commercial vehicle and hydrogen business Ken Ramirez said Hyundai is delighted to further expand its partnership’s product portfolio by leveraging the 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,” said Ramirez.