General Motors Co (GM) and Honda Motor Co are to jointly develop affordable electric vehicles (EV) in major global markets, dramatically expanding a partnership that already spans gas-powered models, batteries and self-driving technology.
The automakers plan to create a new architecture based on GM’s Ultium EV battery that is to be used primarily for small crossover SUVs, with the first models available in North America in 2027, the two companies said in a statement on Tuesday.
The project is intended to produce EVs priced below GM’s planned US$30,000 Chevrolet Equinox and similar future offerings from Honda, they said on a call with journalists.
“GM and Honda will share our best technology, design and manufacturing strategies to deliver affordable and desirable EVs on a global scale, including our key markets in North America, South America and China,” GM chief executive officer Mary Barra said in the statement.
By joining forces, GM and Honda said that they can reduce battery costs faster and develop EVs at prices that even market-leader Tesla Inc appears to have stopped pursuing.
With the latest move, GM and Honda are deepening ties as they aim to share development costs and increase sales.
The automakers have been working together on hydrogen fuel cells since 2013, and more recently announced collaborations on EV batteries, self-driving technology and gas-powered vehicles.
Last year, Honda became the first Japanese automaker to say that it would stop selling gasoline-powered vehicles, setting a target to phase them out completely by 2040.
GM plans to build and sell 30 EV models by 2025, and eliminate gasoline and diesel-powered vehicles a decade later.
“Honda is committed to reaching our goal of carbon neutrality on a global basis by 2050, which requires driving down the cost of electric vehicles to make EV ownership possible for the greatest number of customers,” Honda chief executive officer Toshihiro Mibe said in Tuesday’s statement.
Separately, US regulators have asked LG Energy Solution Ltd about electric and hybrid-vehicle fires involving batteries made by the company.
The probe covers an estimated 138,324 vehicles that the US National Highway Traffic Safety Administration (NHTSA) said are at risk of catching fire when parked or in use, documents posted on Tuesday on the agency’s Web site showed.
The NHTSA opened the probe, known as an equipment query, on Friday last week.
The regulator — which can deem vehicles to be defective and order recalls — said it launched its probe after receiving complaints about vehicles made by Stellantis NV, Volkswagen AG, General Motors, Hyundai Motor Co and Mercedes-Benz Group AG.
LG said that it is cooperating with the inquiry.
“We understand NHTSA’s latest request is a follow-up procedure to determine if the same or similar batteries involved in the recalls were supplied” to other automakers, the company said in a statement.
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