- New EV series expected to go on sale in 2027 starting in
North America
- Honda and GM collaboration designed to enable global
production of millions of EVs
- Companies will explore opportunities for
advanced battery collaboration
DETROIT and TOKYO, April 5,
2022 /PRNewswire/ -- General Motors (NYSE: GM) and
Honda today announced plans to expand the two companies'
relationship to a new chapter by codeveloping a series of
affordable electric vehicles based on a new global architecture
using next-generation Ultium battery technology.
The companies are working together to enable global
production of millions of EVs starting in 2027, including
compact crossover vehicles, leveraging the two companies'
technology, design and sourcing strategies. The companies will also
work toward standardizing equipment and processes to achieve
world-class quality, higher throughput and greater affordability.
The compact crossover segment is the largest in the world, with
annual volumes of more than 13 million vehicles.
GM and Honda also will discuss future EV battery technology
collaboration opportunities, to further drive down the cost of
electrification, improve performance and drive sustainability for
future vehicles.
GM is already working to accelerate new technologies like
lithium-metal, silicon and solid-state batteries, along with
production methods that can quickly be used to improve and update
battery cell manufacturing processes. Honda is making progress on
its all-solid-state battery technology which the company sees as
the core element of future EVs. Honda has established a
demonstration line in Japan for
all-solid-state batteries and is making further progress toward
mass-production.
"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," said
Mary Barra, GM chair and CEO. "This
is a key step to deliver on our commitment to achieve carbon
neutrality in our global products and operations by 2040 and
eliminate tailpipe emissions from light duty vehicles in the U.S.
by 2035. By working together, we'll put people all over the world
into EVs faster than either company could achieve on its
own."
"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," said Toshihiro Mibe, Honda president &
CEO. "Honda and GM will build on our successful technology
collaboration to help achieve a dramatic expansion in the sales of
electric vehicles."
"The progress we have made with GM since we announced the EV
battery development collaboration in 2018, followed by
co-development of electric vehicles including the Honda Prologue,
has demonstrated the win-win relationship that can create new value
for our customers," said Shinji
Aoyama, Honda senior managing executive officer. "This new
series of affordable EVs will build on this relationship by
leveraging our strength in the development and production of high
quality, compact class vehicles."
"Our collaboration with Honda and the continuing development of
Ultium are the foundation of this project, utilizing our global
scale to enable a lower cost foundation for this new series of EVs
for millions of customers," said Doug
Parks, GM executive vice president, Global Product
Development, Purchasing and Supply Chain. "Our plans include a new
all-electric product for North
America positioned at a price point lower than the upcoming
Chevrolet Equinox EV, building on the 2 million units of EV
capacity the company plans to install by the end of
2025."
GM and Honda have developed a close working relationship over
many years, including several projects in recent years focused on
electric and autonomous vehicle technologies. In 2013, the two
companies began working together on the co-development of a
next-generation fuel cell system and hydrogen storage technologies.
In 2018, Honda joined GM's EV battery module development
efforts. In 2020, GM and Honda announced plans to codevelop two
EVs, including the Honda Prologue, to be launched in early 2024,
soon followed by Acura's first EV SUV. Further, the companies have
an ongoing relationship with Cruise and are working together on the
development of the Cruise Origin, one of the first purpose-built
fully autonomous vehicles designed for driverless ride-hail and
delivery.
General Motors (NYSE:GM) is a global company focused
on advancing an all-electric future that is inclusive and
accessible to all. At the heart of this strategy is the Ultium
battery platform, which will power everything from mass-market to
high-performance vehicles. General Motors, its subsidiaries and its
joint venture entities sell vehicles
underthe Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands.
More information on the company and its subsidiaries can be found
at https://www.gm.com.
Honda Motor Co. (NYSE: HMC) is responsible for the
development, production and sales of automobiles, motorcycles,
power products and aviation products worldwide. Honda now delivers
over 30 million products annually through its three product lines.
Honda and its partners build products in more than 60 manufacturing
plants in 27 countries, employing about 220,000 associates
globally. On a global basis by 2050, Honda is striving to achieve
carbon neutrality for all products and corporate activities, as
well as zero traffic collision fatalities involving Honda
automobiles and motorcycles.
Forward-Looking Statements
This press release
and related comments by management may include forward-looking
statements. These statements are based on current expectations
about possible future events and thus are inherently uncertain. Our
actual results may differ materially from forward-looking
statements due to a variety of factors, including: (1) our ability
to deliver new products, services and customer experiences in
response to increased competition in the automotive industry; (2)
our ability to timely fund and introduce new and improved vehicle
models that are able to attract a sufficient number of consumers;
(3) the success of our crossovers, SUVs and full-size
pick-up trucks; (4) our ability to successfully and
cost-effectively restructure our operations in the U.S. and various
other countries and initiate additional cost reduction actions with
minimal disruption; (5) our ability to reduce the costs associated
with the manufacture and sale of electric vehicles and drive
increased consumer adoption; (6) unique technological, operational
and regulatory risks related to our autonomous vehicle regulations;
(7) global automobile market sales volume, which can be volatile;
(8) our significant business in China which is subject to unique operational,
competitive and regulatory risks as well as economic conditions in
China; (9) our joint ventures,
which we cannot operate solely for our benefit and over which we
may have limited control; (10) the international scale and
footprint of our operations which exposes us to a variety of
political, economic and regulatory risks, including the risk of
changes in government leadership and laws (including labor, tax and
other laws), political instability and economic tensions between
governments and changes in international trade policies, new
barriers to entry and changes to or withdrawals from free trade
agreements, changes in foreign exchange rates and interest rates,
economic downturns in foreign countries, differing local product
preferences and product requirements, compliance with U.S. and
foreign countries' export controls and economic sanctions,
differing labor regulations, requirements and union relationships,
differing dealer and franchise regulations and relationships, and
difficulties in obtaining financing in foreign countries; (11) any
significant disruption at one of our manufacturing facilities could
disrupt our production schedule; (12) the ability of our suppliers
to deliver parts, systems and components without disruption and at
such times to allow us to meet production schedules; (13) prices of
raw materials used by us and our suppliers; (14) our highly
competitive industry, which is characterized by excess
manufacturing capacity and the use of incentives and the
introduction of new and improved vehicle models by our competitors;
(15) the possibility that competitors may independently develop
products and services similar to ours or that our intellectual
property rights are not sufficient to prevent competitors from
developing or selling those products or services; (16) our ability
to manage risks related to security breaches and other disruptions
to our vehicles, information technology networks and systems; (17)
our ability to comply with increasingly complex, restrictive, and
punitive regulations relating to our enterprise data practices,
including the collection, use, sharing, and security of the
Personal Identifiable Information of our customers, employees, or
suppliers; (18) our ability to comply with extensive laws and
regulations applicable to our industry, including those regarding
fuel economy and emissions and autonomous vehicles; (19) costs and
risks associated with litigation and government investigations;
(20) the cost and effect on our reputation of product safety
recalls and alleged defects in products and services; (21) any
additional tax expense or exposure; (22) our continued ability to
develop captive financing capability through GM Financial; and (23)
significant increases in our pension expense or projected pension
contributions resulting from changes in the value of plan assets or
the discount rate applied to value the pension liabilities or
mortality or other assumption changes.. A further list and
description of these risks, uncertainties and other factors can be
found in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2018, and our subsequent
filings with the Securities and Exchange Commission. GM cautions
readers not to place undue reliance on forward-looking statements.
GM undertakes no obligation to update publicly or otherwise revise
any forward-looking statements.
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SOURCE General Motors Co.