GM and Honda will jointly develop "affordable" electric vehicles
- The Japanese manufacturer Honda seemed a little behind in terms of electric motors, compared to Tesla and even compared to other Japanese like Toyota or Nissan. However, we recently saw that Honda had decided to design future electric cars with Sony through a new joint venture. A new step has just been taken with the announcement of an agreement with the American GM to develop entry-level 100% electric vehicles (A/B segment), a market segment held today by Chinese manufacturers and by Dacia (Spring).
- The sixth and seventh world manufacturers therefore intend to place themselves in this market for electric vehicles in the lower segments that manufacturers seem to neglect as a general rule. The D/E segments represent 46% of global BEV sales in 2021, while the A/B segments represent only 33%.
- The aim of GM and Honda's strategy is to jointly produce compact electric vehicles at affordable prices (less than 30,000 euros), much lower than those observed today. If this strategy leads to such models, sales of electric cars will increase significantly because today a large part of the clientele cannot acquire this type of vehicle because the price is too high. In 2021, sales of electric vehicles did not exceed 6% of the global automotive market. The new agreement between GM and Honda also concerns the joint production of new electric batteries that are less expensive and manufactured in large quantities for the two manufacturers.
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