General Motors and Honda Motor Co. announced a new series of affordable electric vehicles based on a new joint platform coming to the market in 2027.
Despite EV’s popularity rising, “green cars” are purchased mostly by luxury buyers. The GM-Honda vehicles are expected to be priced below $30,000 and to sell millions of vehicles under both brands. The new EVs announced are going to be based on a new global architecture using GM’s Ultium battery technology.
The new EVs include compact crossovers, the largest selling auto segment in the world with annual volumes of more than 13 million vehicles.
GM CEO and Chair Mary Barra explained the program is aimed at key markets in North America, South America and China. “We have a very important goal. That 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. We definitely can scale and can do it quickly.” Barra said.
No further details were given on the financial terms of the new partnership during the joint presentation. Both automakers are working on next-generation battery development, including solid-state batteries, a better performance option than today’s lithium-ion batteries.