GM, Honda to jointly develop ‘millions’ of affordable EVs by 2027

General Motors and Honda Motor Co. plan to co-develop a line of affordable electric vehicles starting in 2027.

The automakers say the collaboration will enable global production of “millions” of EVs, including compact crossovers. The vehicles will be based on a new global electric architecture powered by GM’s Ultium battery technology, GM and Honda said in a joint statement Tuesday.

GM and Honda will also aim to standardize equipment and processes for better quality, higher throughput and more affordable EVs for consumers.

They will also discuss the potential to collaborate on EV battery technology to reduce the cost of electrification and improve performance.

“By working together, we’ll put people all over the world into EVs faster than either company could achieve on its own,” GM CEO Mary Barra said in the statement.

The plan is part of the automakers’ North American auto alliance, which they announced in September 2020. The alliance built on an earlier partnership in which GM would help develop two new EVs for Honda powered by GM’s Ultium batteries.