GM Teams With Honda To Develop Next-Gen Advanced Battery

But we welcome it for sure.

Just moments ago, General Motors and Honda jointly announced this:

"...an agreement for new advanced chemistry battery components, including the cell and module, to accelerate both companies' plans for all-electric vehicles. The next-generation battery will deliver higher energy density, smaller packaging and faster charging capabilities for both companies' future products, mainly for the North American market."

What's the goal of this partnership? Put quite simply, the target is to deliver a breakthrough battery that will be built by General Motors (long history of battery expertise) and sourced by Honda for future upcoming electric cars. Of course, it's expected that GM electric offerings will make use of this soon-to-be-developed battery too.

By teaming up, the two automakers bring economy of scale, which should drive down costs.

Mark Reuss, General Motors Executive Vice President of Global Product Development, Purchasing and Supply Chain, stated:

"This new, multiyear agreement with Honda further demonstrates General Motors' capability to innovate toward a profitable electric portfolio. GM's decades of electrification experience and strategic EV investments, alongside Honda's commitment to advancing mobility, will result in better solutions for our customers and progress on our zero emissions vision."

Takashi Sekiguchi, Chief Officer for Automobile Operations and Managing Officer of Honda, added:

"In addition to our ongoing joint development and production of fuel cells, this battery component collaboration will enable us to take a new step toward the realization of a sustainable society."

Any speculation as to which future car will make use of this new battery tech first? Possibly that performance electric CUV from Chevrolet?

Press blast below:

Honda Partners on General Motors' Next Gen Battery Development

June 7, 2018, Japan Corporate

Detroit and Tokyo — General Motors Co. (NYSE: GM) and Honda (NYSE: HMC) announced an agreement for new advanced chemistry battery components, including the cell and module, to accelerate both companies' plans for all-electric vehicles. The next-generation battery will deliver higher energy density, smaller packaging and faster charging capabilities for both companies' future products, mainly for the North American market.

Under the agreement, the companies will collaborate based on GM's next generation battery system with the intent for Honda to source the battery modules from GM. The collaboration will support each company's respective and distinct vehicles. The combined scale and global manufacturing efficiencies will ultimately provide greater value to customers.

"This new, multiyear agreement with Honda further demonstrates General Motors' capability to innovate toward a profitable electric portfolio," said Mark Reuss, General Motors Executive Vice President of Global Product Development, Purchasing and Supply Chain. "GM's decades of electrification experience and strategic EV investments, alongside Honda's commitment to advancing mobility, will result in better solutions for our customers and progress on our zero emissions vision."

GM and Honda already have a proven relationship around electrification, having formed the industry's first manufacturing joint venture to produce an advanced hydrogen fuel cell system in the 2020 timeframe. The integrated development teams are working to deliver a more affordable commercial solution for fuel cell and hydrogen storage systems.

"In addition to our ongoing joint development and production of fuel cells, this battery component collaboration will enable us to take a new step toward the realization of a sustainable society," said Takashi Sekiguchi, Chief Officer for Automobile Operations and Managing Officer of Honda.

General Motors Co. (NYSE: GM), its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. GM has leadership positions in several of the world's most significant automotive markets and is committed to lead the future of personal mobility. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

Honda Motor Co. (NYSE: HMC), Honda designs, manufactures and markets automobiles, motorcycles, power products and aviation products worldwide. A global leader in powertrain and electromotive technologies, Honda produces nearly 28 million engines annually for its three product lines. Honda and its partners build products in more than 60 manufacturing plants in 27 countries, employing more than 208,000 associates globally.