GM and Honda announce tie-up to develop affordable electric vehicles

General Motors Co. and Honda Motor Co. will jointly develop affordable electric vehicles in major global markets, dramatically expanding a partnership that already spans gas-powered models, batteries and self-driving technology. The automakers plan to create a new architecture based on GM's Ultium EV battery that will be used primarily for small crossover SUVs, with the first models available in North America in 2027, they said in a statement Tuesday. The project is intended to produce EVs that will be priced below GM's planned $30,000 Chevrolet Equinox and similar future offerings from Honda, the companies said on a call with journalists. "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 Chief Executive Officer Mary Barra said in the statement. The collaboration marks a major move toward democratizing electric vehicles, most of which are expensive and beyond the reach of many consumers.