The company says the persistent semiconductor shortage as well as uncertain geopolitical affairs have caused delays in logistics and parts delivery.
To crack the code of building low-cost electric vehicles, Japan's automakers intend to leverage their skills at tried-and-true lean manufacturing and kaizen.
EV production should account for about 40 to 50 percent of Honda's total output in North America in 2030, or around 800,000 battery-electric vehicles.
For a house-proud engineering force such as Honda, relying on GM for EV help may be surprising. But Honda expects to return to its old independent prowess in due time.
The 50-50 company will be established this year with the goal of starting EV sales and providing mobility services in 2025. The deal is still subject to regulatory approval.