(CBS DETROIT) — General Motors and Honda announced Tuesday they plan to codevelop affordable electric vehicles based on a new global architecture using next-generation Ultium battery technology.

Officials say the companies will be working together to develop millions of EVs, including compact crossover vehicles, beginning in 2027.

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Honda logo is seen near the car showroom
in Krakow, Poland on February, 12 2020. (Photo by Jakub Porzycki/NurPhoto via Getty Images)

“GM and Honda will share our best technology, design and manufacturing strategies to deliver affordable and desirable EVs on a global scale, including our key markets in North America, South America and China,” Mary Barra, GM chair and CEO, said in a statement.

“This is a key step to deliver on our commitment to achieve carbon neutrality in our global products and operations by 2040 and eliminate tailpipe emissions from light duty vehicles in the U.S. by 2035. By working together, we’ll put people all over the world into EVs faster than either company could achieve on its own.”

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Officials say the companies started working together in 2013 to codevelop a next-generation fuel cell system and hydrogen storage technologies. Honda then joined GM’s EV battery module development efforts in 2018. The companies announced co-producing two EVs, in including the Honda Prologue in 2020. That vehicle is expected to launch in 2024, followed by Acura’s first EV SUV.

General Motors headquarters in the Renaissance Center are seen on January 14, 2014 in Detroit as previews continue at the North American International Auto Show. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP via Getty Images)

The companies say they will also work ” toward standardizing equipment and processes to achieve world-class quality, higher throughput and greater affordability.” They also plan to discuss future opportunities for EV battery technology collaboration.

“Honda is committed to reaching our goal of carbon neutrality on a global basis by 2050, which requires driving down the cost of electric vehicles to make EV ownership possible for the greatest number of customers,” said Toshihiro Mibe, Honda president and CEO. “Honda and GM will build on our successful technology collaboration to help achieve a dramatic expansion in the sales of electric vehicles.”

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