Honda, GM sign strategic MoU
- September 7, 2020
"This alliance will help both companies accelerate investment in future mobility innovation by freeing up additional resources. Given our strong track record of collaboration, the companies would realize significant synergies in the development of today's vehicle portfolio," said Mark Reuss, president of General Motors.
The scope of the proposed alliance includes a range of vehicles to be sold under each company's distinct brands, as well as cooperation in purchasing, R&D, and connected services.
Under the proposed alliance, Honda and GM would collaborate on a variety of segments while sharing common vehicle platforms, including the electrified and internal combustion propulsion systems associated with those platforms.
"Through this new alliance with GM, we can achieve substantial cost efficiencies in North America that will enable us to invest in future mobility technology, while maintaining our own distinct and competitive product offerings,” said Seiji Kuraishi, executive vice president of Honda Motor Co., Ltd. “Combining the strengths of each company, and by carefully determining what we will do on our own and what we will do in collaboration, we will strive to build a win-win relationship to create new value for our customers. In this way, Honda will continue making steady progress in solidifying our existing business by realizing strong products, strong manufacturing capability and a strong business structure."
The companies said planning discussions are underway with engineering work beginning in early 2021.