GM and Honda join forces as the post-coronavirus consolidation of the auto industry begins - Business Insider

, the GM-affiliated autonomous ride-hailing startup now valued at around $20 billion, and pledged to create two new electric vehicles using GM's new Ultium battery technology.

"An alliance in North America between Honda and GM would leverage the best technologies and generate substantial cost efficiencies from shared vehicle platforms and propulsion systems, joint purchasing, potential manufacturing efficiencies and other collaboration efforts," GM said in a statement. "This would enable both GM and Honda to make greater investments in advanced and next-generation technologies.

Fiat Chrysler Automobiles CEO Sergio Marchionne excoriated in a now-infamous presentation before his unexpected death in 2018The pre-COVID bottom line was that with the electric and autonomous businesses in gestation — EVs constitute just about 1% of worldwide sales, while no autonomous effort has yet generated any significant revenue — carmakers were staring down the unappetizing prospect of both grappling with Marchionne's indictment and finding the resources to keep pace with...

In numerous conversations with Barra and her team since she got the job in 2014, I heard over and over again that the company wouldn't know how good it was, post-bankruptcy, until it was tested by fire. Then came COVID-19. And while GM and Honda do go head-to-head with many products, Honda is strong in segments that GM would like to get out of, chiefly sedans, while the Japanese automaker lacks the big SUVs and full-size pickups that are GM's US stalwarts.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside McDonald's whirlwind week and how brands are using TikTok - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

GOP senator pushes QAnon conspiracy theory on coronavirus case count - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. that's actually not false. it is true This was predictable. Their answer is always that anything that makes them look bad is fake. The GOP is starting to unravel. Fuque them all. They deserve this.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Russia coronavirus vaccine data: early, positive human results - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. You know with the poisoning of adversaries, I’m really skeptical about taking vaccines from Russia. ☀️ High comedy watching democrats turn into Anti-Vaxxers
Source: BusinessInsider - 🏆 729. / 51 Read more »

The top 10 entry-level jobs hiring during the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

What's ahead this month in the coronavirus vaccine race - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I will help 25 people earn $8000 in 3days, inbox me if interested
Source: BusinessInsider - 🏆 729. / 51 Read more »