General Motors and Honda Will Jointly Develop New Electric Honda Vehicles

General Motors (NYSE: GM) and Honda (NYSE: HMC) said Thursday that they will work together to develop two new electric vehicles for Honda using GM's vehicle architecture and proprietary batteries.

The companies announced that these two new electric Hondas will be built at GM factories in North America. Both will go on sale in the U.S. and Canada in the 2024 model year.

The new Hondas will be built on a new, highly flexible electric vehicle architecture developed by GM to underpin a wide range of future electric models. Like those upcoming GM electric vehicles, the two new Hondas will be powered by GM's proprietary low-cost Ultium battery packs. 

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Source Fool.com