As General Motors pushes prices of its gasoline-powered pickups and SUVs ever higher with offerings such as the new GMC Sierra Denali Ultimate trim topping $80,000, it's working with Honda to make electric vehicles as inexpensive as possible.
GM and Honda said this week they're planning a line of electric crossovers that will cost less than $30,000, well below the price of the industry's average gasoline vehicle today.
The automakers intend to sell millions of co-developed "affordable" EVs starting in 2027. The vehicles, mostly compact crossovers, will be based on a new global electric architecture powered by GM's Ultium battery technology and use jointly created advanced battery technology.
By volume, "this is by far the most significant collaboration by any two large OEMs," said Jesse Toprak, chief analyst for Autonomy, which runs an EV subscription service. "This could be the most significant automotive partnership that really turns on that switch of EVs becoming truly mass-produced vehicles."
If successful, the partnership could produce enough vehicles to make GM and Honda leading EV sellers long term, he said.