GM, Honda Target Savings By Collaborating On EVs, Gas-Engine Models

GM’s goal is to introduce 20 new electric vehicle models by Honda has said it intends to make its entire European product lineup electric by 2022, including the launch of six new models.

Curated via Twitter from Forbes Tech’s twitter account….

Planning for the new partnership will start now, the two companies said, with engineering work beginning in early 2021, GM said. “Overall, we believe this alliance would help both companies realize significant cost savings in the development of our vehicle portfolios,” said GM President Mark Reuss, in a statement. “For GM, the substantial amount of money we would save as a results of this would help fund our vision of an all-electric future.

I have worked through three recessions, chronicled the rise of Asia and European automakers in the U. S. , the bankruptcies of General Motors and Chrysler, and witnessed the early stages of autonomous vehicle development.

Seiji Kuraishi, Honda executive vice president, concurred that a major goal was to save money. “Combining the strengths of each company, and by carefully determining what we will do on our own and what we will do in collaboration, we will strive to build a win-win relationship to create new value for our customers,” Kuraishi said in a statement.

General Motors and Honda will expand their partnership to cooperate on developing future vehicles by sharing the underpinnings, or platforms, on both gas-fueled and electric vehicles.

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