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Honda, General Motors Sign Deal To Work On Vehicles Together

Honda, General Motors Sign Deal To Work On Vehicles Together

General Motors and Honda say they have signed a deal to explore sharing vehicle underpinnings and propulsion systems in North America.

DETROIT: General Motors and Honda say they have signed a deal to explore sharing vehicle underpinnings and propulsion systems in North America.

The companies say planning discussions on jointly-designed vehicles will start immediately and include vehicles powered by both electricity and internal combustion engines. Engineering work would begin early next year.

Honda and GM say in a statement Thursday that they’ll also cooperate on purchasing, research and connected services.

The memorandum of understanding between the companies isnt binding. But the move is another sign of increasing consolidation in the automotive business as companies face huge capital outlays to develop current products as well as new electric and autonomous vehicles.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


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