Detroit and Tokyo —Firstly, General Motors Co. (NYSE: GM) and Honda (NYSE: HMC) announced an agreement for new advanced chemistry battery components. This includes the cell and module to accelerate both companies’ plans for all-electric vehicles. Furthermore, the next-generation battery will deliver higher energy density, smaller packaging and faster charging capabilities. This will be for both companies’ future products, although mainly for the North American market.
In conclusion and under the agreement, the companies will collaborate based on GM’s next generation battery system. This in addition is with the intent for Honda to source the battery modules from GM. As well, the collaboration will support each company’s respective and distinct vehicles. Finally, the combined scale and global manufacturing efficiencies will ultimately provide greater value to customers.
“This new, multiyear agreement with Honda further demonstrates General Motors’ capability to innovate toward a profitable electric portfolio,” said Mark Reuss, General Motors Executive Vice President of Global Product Development, Purchasing and Supply Chain. “GM’s decades of electrification experience and strategic EV investments, alongside Honda’s commitment to advancing mobility, will result in better solutions for our customers and progress on our zero emissions vision.”
“In addition to our ongoing joint development and production of fuel cells, this battery component collaboration will enable us to take a new step toward the realization of a sustainable society,” said Takashi Sekiguchi, Chief Officer for Automobile Operations and Managing Officer of Honda.
Source: 2018-06-07, General Motors Co. (NYSE: GM) http://www.gm.com and Honda Motor Co. (NYSE: HMC)