South Korea's Hyundai Motor said on Thursday it is in talks with General Motors to supply commercial electric vehicles to its U.S. peer, as it expects sales growth to halve this year due to softening demand.

It also flagged policy risk in the United States with U.S. President Donald Trump taking office with promises of import tariffs, though it said any negative impact will be greater for Japanese rivals.

 

The automaker, which signed a preliminary tie-up deal with GM last year, also said it aims to sign binding contracts on cooperation in parts procurement and passenger and commercial vehicles within the first quarter of this year.