GM, Honda scrap plans to co-develop 'affordable' sub-$30,000 EVs
Publishing timestamp: 2023-10-25 12:37:57
Summary
General Motors and Honda have canceled their plans to jointly develop affordable electric vehicles due to slower-than-expected demand and changing market conditions. This decision is part of a trend of automakers scaling back or scrapping previously announced EV plans. The partnership was expected to use GM's next-generation battery technology to produce affordable EVs for global markets. The cancellation is not connected to GM's plans to introduce the next generation of the Bolt. Other partnerships between GM and Honda, including the production of the 2024 Honda Prologue EV, will continue.
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Keywords: business news, business, general motors co, transportation, mary barra, detroit, climate, honda motor co ltd, breaking news: business, paul jacobson, autos,
Source: https://www.cnbc.com/2023/10/25/gm-honda-scrap-plans-to-co-develop-affordable-sub-30000-evs.html