Stock Market Today: Dow up 200 points, stocks climb to session highs
General Motors Co.’s stock soared 4.2% Thursday, after the company signed a memorandum of understanding with Korea’s Hyundai to explore collaboration on vehicles, supply chain and clean-energy technologies in a move aimed at cutting costs and bringing new technology to market faster.
Projects under consideration include co-developing and producing passenger and commercial vehicles, internal combustion engines and clean energy, and electric and hydrogen technologies, the companies said in a statement.
They will also explore opportunities for combined sourcing in areas such as battery raw materials and steel, among others.