Matthew DeBord   Jun. 7, 2018, 9:43 AM
Chevy Bolt Reveal
The Chevy Bolt EV Chevrolet
  • General Motors and Honda announced a deal to develop next-generation electric-battery technology.
  • GM will ultimately supply Honda with batteries for the North American market.
  • The deal comes after GM and SoftBank revealed a $3.35 billion investment in GM’s Cruise self-driving division.
  • GM intends to bring 20 new EVs to market by 2023.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     General Motors might be over 100 years old, but the car maker isn’t slowing down in its march to the future. After announcing a $3.35-billion investment in its Cruise self-driving division by Japan’s SoftBank and GM itself, the company on Thursday said that it has struck a deal with Honda to develop and supply electric-vehicle batteries.

 “This new, multiyear agreement with Honda further demonstrates General Motors” capability to innovate toward a profitable electric portfolio,” vice-president and product czar                    Mark Reuss said in a statement. “GM’s decades of electrification experience and strategic EV investments, alongside Honda’s commitment to advancing mobility, will result in better solutions for our customers and progress on our zero emissions vision.”In the arrangement, GM will supply Honda with advanced battery packs.

“The next-generation battery will deliver higher energy density, smaller packaging and faster charging capabilities for both companies’ future products, mainly for the North American market,” GM said in a statement.