General Motors Co. and Honda Motor Co. Ltd. on Thursday said they have signed a memorandum of understanding toward establishing a strategic alliance in North America.
The partnership would build on previous collaborations in electrified vehicles and technologies, enabling both companies to explore sharing vehicle platforms and propulsion systems. It includes a range of each company's vehicles as well as cooperation in purchasing, research and development, potential manufacturing efficiencies and connected services that could save both companies costs as they develop and deploy new technologies.
"This alliance will help both companies accelerate investment in future mobility innovation by freeing up additional resources," GM President Mark Reuss said in a statement. "Given our strong track record of collaboration, the companies would realize significant synergies in the development of today's vehicle portfolio."
Development planning discussions between the Detroit and Japanese automaker will begin immediately with engineering work starting in early 2021.
"Through this new alliance with GM," Seiji Kuraishi, Honda executive vice president, said in a statement, "we can achieve substantial cost efficiencies in North America that will enable us to invest in future mobility technology, while maintaining our own distinct and competitive product offerings. Combining the strengths of each company, and by carefully determining what we will do on our own and what we will do in collaboration, we will strive to build a win-win relationship to create new value for our customers."
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September 03, 2020 at 07:22PM
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GM, Honda form alliance in North America for product development - The Detroit News
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