GM, Honda Sign Deal to Develop Batteries for EVs

June 8, 2018—General Motors and Honda have signed a deal to collaborate on battery development for electric vehicles, USA Today reports.

The move deepens the advanced technology alliance between Detroit-based GM and Japan-based Honda, which are already working together on hydrogen fuel cells.

The latest accord involves the development of battery components, including cells and modules, "to accelerate both companies' plans for all-electric vehicles," GM and Honda said Thursday in a statement.

The goal is better battery performance, including longer range, lighter parts and speedy charging. The work is "based on GM's next-generation battery system," the companies said.

Both companies already offer electric cars, such as GM's Chevrolet Bolt and Honda's Clarity, but are expected to greatly expand their range of offerings.

As part of the deal, Honda will buy battery modules from GM, which has established battery manufacturing at operations in Michigan. Financial details of the deal were not disclosed.

"This new, multi-year agreement with Honda further demonstrates General Motors' capability to innovate toward a profitable electric portfolio," GM global product development and supply chain chief Mark Reuss said in a statement.