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Honda officials hope the alliance will generate significant cost savings in North America, The Wall Street Journal reported.
In April, the companies announced that they had agreed to jointly develop two electric vehicles for Honda based on GM's global electric vehicle platform powered by Ultium batteries.
"This alliance will help both companies accelerate their investments in future mobility innovation by freeing up additional resources," said GM President Mark Royce.
The companies intend to share the costs of R&D and development of some vehicles and engines in the future.
GM shares were down 0.4% during Thursday's trading. Since the beginning of the year, the capitalization of the American automaker has decreased by almost 16%, Honda - by 13%.
source: wsj.com
In April, the companies announced that they had agreed to jointly develop two electric vehicles for Honda based on GM's global electric vehicle platform powered by Ultium batteries.
"This alliance will help both companies accelerate their investments in future mobility innovation by freeing up additional resources," said GM President Mark Royce.
The companies intend to share the costs of R&D and development of some vehicles and engines in the future.
GM shares were down 0.4% during Thursday's trading. Since the beginning of the year, the capitalization of the American automaker has decreased by almost 16%, Honda - by 13%.
source: wsj.com
