Over the past decade, General Motors (NYSE: GM) and Honda Motor (NYSE: HMC) have found numerous opportunities to work together to develop new technologies and reduce their costs. The two automakers have focused much of their cooperation on new energy vehicles and self-driving technology.
Last week, GM and Honda expanded their relationship with the goal of making electric vehicles (EVs) more affordable than ever. This partnership could potentially position GM and Honda as the highest-volume EV manufacturers in the world within a decade.
The initial stages of cooperation between GM and Honda mainly centered on developing new technologies like fuel cells and autonomous vehicles. More recently, though, the automakers have primarily focused on leveraging the benefits of their combined scale to cut costs. (Together, they sold more than 13 million vehicles in 2019.)
For further details see:
GM and Honda Deepen EV Partnership to Cut Costs