GM forms alliance with Honda to develop future products in North America by JAMIE L. LaREAU

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General Motors and Honda have a deal to share vehicle platforms and technology in North America starting next year.

On Thursday the automakers said they have signed a non-binding memorandum of understanding to establish a North American automotive alliance. The deal has come together after extensive discussions.

The proposed alliance will include sharing a range of vehicles, to be sold under each company’s distinct brands, as well as cooperation in purchasing, research and development, and connected services.

Honda and GM plan to collaborate on purchasing supplies by leveraging their scale to gain costs savings. Purchasing collaboration would focus on joint sourcing of materials, logistics and localization strategies, GM said.

The alliance will help GM and Honda achieve substantial cost savings, and allow them to continue to invest in developing future products.

“This alliance will help both companies accelerate investment in future mobility innovation by freeing up additional resources,” GM President Mark Reuss said in a statement. “Given our strong track record of collaboration, the companies would realize significant synergies in the development of today’s vehicle portfolio.”

Birth of a deal

Reuss said GM and Honda will work “immediately toward completing definitive agreements and will have more details to share regarding financial benefits once those agreements are finalized.”

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