General Motors and Honda Motor Company announced on Thursday that they have signed a Memorandum of Understanding that will see the two manufacturers explore the possibility of collaborating on various projects including a range of vehicles which will be sold under each companies brands.
The new agreement is different to their existing collaboration on electric vehicles. It is unclear whether the new partnership will cross over to their motosport programmes. Chevrolet and Honda Performance Development are currently the engine suppliers to the NTT IndyCar Series.
IndyCar are looking into bringing a new engine supplier to the series with both Chevrolet and Honda confirming that they would be happy to provide guidance to help fast track a new supplier’s entry to the series amid widespread talk of Ferrari wanting to enter the world of IndyCar.
Speaking about the news, Mark Reuss, President of General Motors said:
This alliance will help both companies accelerate investment in future mobility innovation by freeing up additional resources. Given our strong track record of collaboration, the companies would realize significant synergies in the development of today’s vehicle portfolio.
Seiji Kuraishi, Executive Vice President of Honda Motor Company said:
Through this new alliance with GM, we can achieve substantial cost efficiencies in North America that will enable us to invest in future mobility technology, while maintaining our own distinct and competitive product offerings. Combining the strengths of each company, and by carefully determining what we will do on our own and what we will do in collaboration, we will strive to build a win-win relationship to create new value for our customers. In this way, Honda will continue making steady progress in solidifying our existing business by realizing strong products, strong manufacturing capability and a strong business structure