GM and Honda to collaborate in North America

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General Motors Co. and Honda Motor Co. Ltd. said Thursday they have signed a memorandum of understanding to create a strategic alliance in North America and will explore sharing platforms and propulsion systems for some of their vehicles. The agreement builds on one signed in April to jointly develop two all-new electric vehicles for Honda, using GM’s EV platform powered by Ultium batteries, the companies said in a joint statement. “This alliance will help both companies accelerate investment in future mobility innovation by freeing up additional resources,” said GM President Mark Reuss. The companies intend to share R&D and engineering costs for certain future vehicle and propulsion platforms. GM shares were slightly lower premarket, and have fallen 15% in the year to date, while the S&P 500 has gained 11%.
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