Honda and General Motors will no longer co-develop a series of affordable compact SUVs, as reported to Bloomberg.Honda cited the current business environment, rising costs for the project, and challenges with getting adequate driving range. While this joint plan has been cancelled, Honda says the two companies will 'search for a solution separately.'Promises are easy to make but even easier to break.
GM revealed earlier this week that it is unsure if the company can reach its original $14 billion forecast for profits in 2023, pointing at the United Auto Workers strike as the culprit. The original plan had called for a new platform based on GM's Ultium battery, found in everything from the Chevy Equinox EV to the GMC Hummer EV and electric BrightDrop vans.