Recently, General Motors and Honda Motor officially announced the termination of their joint low-cost electric car project, which began a year ago. The previously initiated Honda Prologue and the all-new Acura ZDX projects will continue, but both parties will independently develop their own low-cost electric cars.
In April 2022, Honda Motor and General Motors announced a collaboration to create a new global electric vehicle platform. This platform would employ General Motors' Ultium battery technology, standardizing production equipment and processes to produce affordable electric vehicles. The first model was planned to debut in the North American market in 2027. It is reported that the primary reasons for abandoning this initiative are the recent slowdown in North American market sales, increased labor costs, and a gloomy economic outlook.
In the third quarter, General Motors sold over 670,000 new cars in the North American market. However, of these, only 20,092 were pure electric vehicles. Of this number, 16,000 units were contributed by the Chevrolet Bolt EV/Bolt EUV. It is understood that these two models are approaching the end of their product lifecycle and may soon be discontinued. Subsequent releases will feature a new generation of vehicles equipped with lithium iron phosphate batteries to further reduce costs.
