Honda and General Motors, two of the biggest car companies in the world, believe they can crack the code to producing a low-cost EV. And they want to do it together.
Washington, DC Building a cheap car that is also profitable for the manufacturer is shockingly difficult. Because of the high cost of battery components, it becomes even more difficult if that car is electric. But
The two companies announced on Tuesday that they will team up on electric car development with the goal of selling millions of low-cost electric vehicles. All of the vehicles will rely on a shared battery architecture, but they will be continue to be branded distinctly as either GM or Honda cars. The automakers will also explore ways to develop new, cheaper batteries that improve vehicle performance and sustainability.
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