Here's the tacit truth: building profitable, well-selling EVs is becoming harder than ever in America. With the EV tax credit on the way out, brands like Hyundai seem to be quietly quitting the U.S. market in favor of other countries like Europe. That's why targeting the commercial market is such a great idea.

General Motors and Hyundai Motor on Wednesday outlined plans to develop five vehicles together as they seek to lower costs amid growing competition from nimble Chinese rivals, although some analysts questioned whether the plan would work.