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

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

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

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

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

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

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

Electric cars are six times cheaper than gas cars to run