•GM is pushing to achieve carbon neutrality in its global products and operations by 2040
•Honda on the other hand is aiming to reach carbon neutrality on a global basis by 2050
General Motors and Honda Motor Co on Tuesday said they will co-develop a series of electric vehicles based on a new global architecture, allowing production of millions of vehicles starting in 2027.
The announcement expands on plans for GM to begin building two electric SUVs for Honda starting in 2024.
The automakers said the new deal is for "affordable" EVs, including compact crossover vehicles, built using GM's Ultium battery technology.
The companies said they will also discuss future battery technology collaboration for electric vehicles in a push to drive down costs.
"GM and Honda will share our best technology, design and manufacturing strategies to deliver affordable and desirable EVs on a global scale, including our key markets in North America, South America and China," GM Chief Executive Mary Barra said in a statement.
The deal is part of GM's push to achieve carbon neutrality in its global products and operations by 2040 and eliminate tailpipe emissions from light-duty vehicles in the United States by 2035.
Honda has said it is aiming to reach carbon neutrality on a global basis by 2050.
The Japanese carmaker owns a stake in GM's Cruise self-driving car subsidiary and the carmakers are co-developing the Cruise Origin autonomous EV. The companies also have a joint venture to develop and produce hydrogen fuel-cell systems at a plant in Brownstown, Michigan.