.GM and Honda are teaming up to co-develop 'affordable' electric vehicles expected to hit the market by 2027.
General Motors and Honda are teaming up to co-develop"affordable" electric vehicles expected to hit the market by 2027.
An uptick in prices at the gas pump over recent months has brought a renewed focus on electric vehicles. President Joe Biden has touted the vehicles as the future and insists they can save consumers money. Currently, electric vehicles cost an average of $10,000 more than the industry average, per an estimate from Kelley Blue Book. Although the upfront cost is typically higher than their gas-powered counterparts, electric cars can have a lower cost to drivers in the long run.
Both companies have been collaborating on electric vehicles since 2018. In 2020, they announced plans to co-develop the Honda Prologue, which is set to be launched in 2024. Additionally, the companies have worked to advance battery technology by investing in research on solid-state batteries, which scientists believe could be safer and have a higher life cycle than current lithium-ion batteries.
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