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GM and Honda ditch plan to build cheaper electric vehicles

GM and Honda logos side by side
Image: GM

A little more than a year after announcing an ambitious plan to co-develop a lineup of affordable electric vehicles, General Motors and Honda are scrapping the deal — or at least just that one aspect of the deal.

Announced in April 2022, the plan was to build a series of affordable EVs on GM’s flexible EV platform with its Ultium-branded battery packs. At the time, GM and Honda said they expected to begin production of “millions” of these affordable EVs by 2027.

“After studying this for a year, we decided that this would be difficult as a business, so at the moment, we are ending development of an affordable EV,” Honda CEO Toshihiro Mibe said in the interview with Bloomberg, which was the first to report the news.

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