Two heads are better than one, and automotive giants GM and Honda are coming together to develop a series of EVs to compete in this hot sector.
Are you guys getting tired of talking about EVs yet?
I have to admit, even though it may seem that I’m talking about them ad nauseum, there’s a reason for it: the industry is WHITE hot right now.
Personally, I really don’t care about cars.
A car to me is something that gets you from point A to point B – and as long as the mode of travel is somewhat comfortable and it has air conditioning, then I couldn’t care less about how fast the car does 0 to 60…
In fact, I’m so ignorant about cars that I don’t even know why 0 to 60 is the metric used to measure whether a car is fast or not.
Hell, I’ll do you one better than that…I only have the loosest understanding of what “horsepower” actually means.
Like, I understand that it has to do with an engine’s equivalence to the energy output of an actual horse…but isn’t horsepower sort of subjective? Don’t some horses have less or more power depending on their breed? And apparently, one horse can put out upwards of 14 horsepower!
It doesn’t make sense to me…
But that’s fine. We all have our special areas of understanding. I’m sure there are many of you that don’t know what an omoplata is.
EVs: Why They’re So Hot
We don’t need to fully understand something–or even care that much about it–to make money from a hot opportunity when it comes along.
I don’t care about the inner workings of gas-powered and electric vehicles; I just care about helping YOU make money from them.
The current oil and gas issues have launched a level of interest in EVs at an almost unprecedented level, and just as a rising tide lifts all boats, companies across the board are reaping the benefits.
However, as the market expands, companies are looking for ways to gain an advantage over the competition, and two titans of the automotive industry may have just shown the quickest and best way to shore up their products.
General Motors (GM) and Honda (HMC) recently revealed that they have entered into a partnership to co-develop a series of electric vehicles based on a new global outlook. It’s a partnership that will have the two companies producing MILLIONS of cars over the next five years.
Right now, the plan is for GM to begin building two electric SUVs for Honda starting in 2024, with affordability being the focus. The automakers said the new deal will include the production of compact crossover vehicles with Honda branding, but using GM’s battery technology
GM CEO Mary Barra said, “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.”
The question is…what do these companies view as “affordable”?
Right now, I think anything over $30,000 is going to be too rich for many Americans’ blood. Most other EVs sell from $45,000 – $60,000, so they’ll need to come in well under that to be considered the “affordable” option.
GM And Honda’s Sweet Deal
The deal is part of GM’s own green initiative, begun with the intention of achieving carbon neutrality by 2040 (while Honda is shooting for carbon neutrality by 2050) and eliminating emissions from light-duty vehicles in the US by 2035.
That may seem like a long way out, but in terms of business, that’s right around the corner.
A partnership between these two automakers seems like a no-brainer…
Honda owns a stake in GM’s Cruise and the two are co-developing the Cruise Origin autonomous EV.
If that doesn’t solidify their partnership, the companies also have a joint venture to both develop and produce the type of car that many experts say is the TRUE future of clean vehicles: a hydrogen fuel-cell model.
Unlike EVs that need to be plugged in, which focus drivers to wait for their car to be charged, Hydrogen fuel cells can be filled up much like a gas vehicle at a pump, and drivers can be on their way in moments.
The best part is that existing gas stations can be retrofitted for hydrogen, which makes it the ideal solution for the industry at large.
But that’s an article for another day…
For now, we’ll just wait to see how this partnership works out. Maybe other companies will follow suit.
It could become a trend!
Regardless, you can’t deny the power that EVs have right now, and if you haven’t already made a move into the sector…what are you waiting for?
Find an opportunity now…
It’s clear the future is in clean vehicles–and you don’t want to be stuck in the past.
“Don’t confuse progress with winning.” – Mary T. Barra