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Honda and GM Abandon Plan for Affordable EVs

Honda and GM

Honda and GM have jointly decided to discontinue their plan to develop affordable electric vehicles (EVs). Initially announced in April 2022, the project aimed to create compact crossover EVs with a starting price lower than GM’s forthcoming $30,000 electric Chevrolet Equinox. The first models were expected to launch in 2027.

Toshihiro Mibe, Honda’s CEO, confirmed the cancellation of the project, citing its challenges from a business perspective. Both companies will continue to explore options to reduce the cost of EVs independently.

The decision to abandon this project aligns with industry-wide trends of EV production slowdowns and ongoing labor disputes, including the United Auto Workers strike, which has impacted GM’s operations. Despite discontinuing this specific program, Honda and GM will continue their collaboration on other projects, including the development of a driverless ride-hailing service in Japan in 2026, in partnership with Cruise.

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