Hyundai Motor Co. reported a decline in operating profit and global sales last year, marking the first downturn in four years. Analysts suggest that the automotive giant, a key player in South Korea’s economy,

Last fall, General Motors and Hyundai announced they were exploring a partnership focused on joint product development, manufacturing, and future clean energy technologies. Specifics were few and far between, but the ultimate goal was to “reduce costs and bring a wider range of vehicles and technologies to customers faster.”

Hyundai Motor Company (OTCPK:HYMTF) made several important announcements regarding its partnership with General Motors on Thursday. The South Korean automaker said it talked to the Detroit automaker about supplying commercial electric vehicles to the U.