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GM and Honda to develop affordable electric vehicles that cost less than $30,000

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General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan.
Photo by Steve Fecht for General Motors

DETROIT – General Motors and Honda Motor will develop a series of affordable electric vehicles based on a new global architecture, the companies announced Tuesday morning.

The project will utilize GM’s next-generation Ultium battery technology. The first vehicles are expected to go on sale in 2027, according to a joint press release.

“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 CEO and Chair Mary Barra said in a statement.

The new partnership deepens the ties between the two companies regarding all-electric and autonomous vehicles. Honda previously invested $750 million in Cruise, GM’s majority-owned autonomous vehicle unit, and GM produced two EVs for Honda for the 2024 model-year. The companies have also collaborated on battery modules and fuel cell vehicles.

Honda has said it’s developing its own EV technology and plans to start building its own electric vehicles after the two GM-made EVs go on sale in 2024.

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