Honda Motors and GM will collaborate on affordable electric vehicle

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It’s not hard not to concede that Tesla Motors is the most popular electric vehicle manufacturer globally. The company has been working hard and producing excellent products. Make no mistake, big auto has noticed, and it’s the reason why Honda Motors and General Motors (GM) are teaming up on an affordable electric vehicle option.

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Both Honda and GM have had their own electric vehicles and hybrid options; the Honda Prius has been popular for many years. But it is evident that Tesla has taken the limelight in the EV market. The new joint Honda and GM venture is expected to produce millions of cars by 2027.

The announcement expands on plans for GM to begin building two electric SUVs for Honda starting in 2024 – the Honda Prologue and an Acura model. read more

The automakers said the new deal is for “affordable” EVs, including compact crossover vehicles, built using GM’s Ultium battery technology. The compact crossover is the biggest selling auto sector in the world with annual volumes of more than 13 million vehicles, the companies said.

The companies declined to say how much they are investing as part of the new collaboration.

GM Chief Executive Mary Barra said Tuesday at an Axios event the pricing will come in below the $30,000 price tag planned for the electric Chevrolet Equinox SUV. She said the new lower-priced vehicles would be “attainable EVs.”

She said the new vehicle is part of GM’s plan to surpass Tesla in EV sales.

“We have a very important goal… that by mid-decade, by 2025, we’ll sell more EVs in the U.S. than anyone else and to do that, you need to have a portfolio of vehicles,” Barra said, noting GM plans a wide range of small to large EVs. “We definitely can scale and can do it quickly.”

The companies said they will also discuss future battery technology collaboration for electric vehicles in a push to drive down costs.

The deal is part of GM’s push to achieve carbon neutrality in its global products and operations by 2040 and eliminate tailpipe emissions from light-duty vehicles in the United States by 2035.

Reuters

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Last Updated on April 6, 2022.

GM Honda Electric Vehicles
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