HMC Honda Motor Co Ltd

By Will Feuer

General Motors Co. and Honda Motor Co. Ltd. said they are expanding their partnership to co-develop a series of affordable electric cars based using Ultium battery technology.

The auto makers want to enable production of millions of electric cars globally starting in 2027, including compact crossover vehicles, which is the largest car segment in the world, the companies said.

"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 Chairwoman and Chief Executive Mary Barra said.

The companies didn't say at what price point the new line of cars expected to be sold, but GM Executive Vice President of Global Product Development, Purchasing and Supply Chain Doug Parks said the company's plans include an electric car for North America at a price point lower than the upcoming Chevrolet Equinox EV.

GM and Honda have been working together since 2013, when the two companies started developing fuel-cell systems and hydrogen storage technologies. In 2020, GM and Honda said they would co-develop two electric cars, including the Honda Prologue, to be launched in early 2024, soon followed by Acura's first EV SUV.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

April 05, 2022 08:05 ET (12:05 GMT)

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