The 2 firms introduced an settlement that may entail the businesses sharing fundamental car designs to be bought below their respective manufacturers. With this new alliance, GM (GM)
and Honda (HMC)
will work collectively to develop a spread of electrical and petroleum-powered automobiles, however it is going to additionally permit for “cooperation in buying, analysis and growth and related service,” Honda mentioned in a press launch Thursday.
This implies the automotive firms will use the identical equipment and bodily constructions for his or her varied fashions of electrical automobiles.
The Honda and GM electrical automotive alliance is not the primary of its sort. In 2019, Toyota
and Subaru, adopted by
Ford and Volkswagen, introduced that they were teaming up
on self-driving and electrical automobiles.
The alliance between Honda and GM builds on an announcement from April, when GM mentioned it had signed an settlement to develop the essential underpinnings of two electrical automobiles for Honda, utilizing GM’s in-house “Ultium” battery know-how. Underneath that settlement, Honda will nonetheless be creating the outside and inside designs of the automobiles that would consequence.
Honda’s inventory is down 9.5% from this time final yr and GM’s inventory is down practically 15% from this time final yr.