News

Honda and GM end partnership for electric vehicle production

The deal foresaw a US$ 5 billion investment and the production of “millions” of entry cars

By Redação AutoIndústria | 10/25/23 | Translated by Jorge Meditsch

After a long courtship and the “marriage” celebration in 2022 first half, Honda and General Motors announced on Wednesday, 10/25, the end of their world partnership to develop and produce affordable electric vehicles. The decision puts an end to a US$ 5 billion investment plan.

Announced in April last year with global hoopla, the partnership aimed to produce “millions” of vehicles from both brands already in 2027 over a single dedicated platform. From now on, each manufacturer will have its own strategy for the segment.

The end of the agreement indicates that, at least for now, not everything is going all right in General Motors’ plans and strategies to become an electric vehicle-exclusive manufacturer by 2035. On Tuesday, 10/24, Mary Barra, GM’s CEO, asserted that the manufacturer was reviewing its plan for affordable electric vehicles.

Facing a strike in the United States, the company had a 17% EBIT decrease in the third quarter from the profit obtained one year ago. GM already admits it hardly would profit in 2023.

“After extensive studies and analysis, we agreed to discontinue the program. Each company keeps compromised to the EV market accessibility”, said the manufacturers in a joint note, ensuring the continuity of some ongoing projects nevertheless.

When the partnership was announced, GM and Honda admitted using a new global architecture for affordable electric cars and Ultium batteries. Compact SUVs were part of the future portfolio. The deal also foresaw the uniformization of components and processes.


 

Compartilhar
Publicado por
Redação AutoIndústria
Tags: GMHonda

Notícias recentes

Brasileiros já compraram 2 milhões de veículos leves em 2024

Com 249,4 mil unidades, outubro tem o melhor resultado mensal do ano

% dias atrás

Alckmin recebe CEO global da Honda

Em debate, os benefícios do Mover e a manutenção dos direitos constitucionais da Zona Franca…

% dias atrás

Começa na segunda a maior feira de transporte da América Latina

AutoIndústria mostra na próxima semana tudo o que vai acontecer na Fenatran

% dias atrás

Honda mexe bem pouco na família City 2025

Sedã e hatch ganham mais no conteúdo do que na forma

% dias atrás

Picape que vende mais que carro no Brasil atinge 2 milhões de unidades

Lançada em 1998, Strada segue líder em emplacamentos este ano

% dias atrás

XCMG lançará na Fenatran caminhão leve elétrico

Modelo E3-10T coloca a marca chinesa na disputa do mercado de entregas urbanas no País

% dias atrás