Starting in 2027, GM and Honda will co-develop a series of cheap electric automobiles.
With this partnership, automakers believe they can produce “millions” of EVs, including compact crossovers. The vehicles will be powered by GM’s Ultium battery technology, according to a joint statement released Tuesday.
GM and Honda will also unify equipment and processes to improve quality, productivity, and lower costs for consumers.
They will also consider collaborating on EV battery technology to lower costs and increase performance.
“By working together, we’ll put more people in EVs faster than either firm alone,” GM CEO Mary Barra stated.
They revealed the proposal in September 2020 as part of their North American auto alliance. GM would assist Honda create two new EVs using GM’s Ultium batteries.