Honda and GM ties up to make electric vehicles for less than $30,000

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The EV market has grown manifold in recent years and new players are coming up

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Recently, GM and Honda planned to tie up to make affordable EVs together

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The aim of this collaboration is to make EVs for less than $30,000

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As per this project, GM’s next-generation Ultium battery technology will be ultilized

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It is expected that this project will generate millions of lower-priced EVs by 2027

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They are targeting market in North America, South America and China primarly

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Tie up like this will help make EVs available to users at the lower price and strengthen the market

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Electric cars are six times cheaper than gas cars to run

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