General Motors and Honda announced today that their collaboration in the field of electric vehicle technology will be continuing and expanding in the future. The two automakers will work together to develop a new global architecture for compact crossovers using Ultium battery technology.

The two carmakers say they’re working together to enable the production of millions of EVs starting in 2027 leveraging both companies’ technology, design, and sourcing strategies. They are also interested in making high-quality products that can be produced at a greater scale to make them more affordable.

“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,” said Mary Barra, GM chair and CEO. “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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The automakers will also continue to discuss battery technology collaboration opportunities to drive down their price. Both companies are working on solid-state batteries, which are tipped as the next evolution in EV technology that will allow major improvements in range, weight, and sustainability.

“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 & CEO. “Honda and GM will build on our successful technology collaboration to help achieve a dramatic expansion in the sales of electric vehicles.”

GM and Honda have been working together on electric vehicles since 2018. Together, they are developing autonomous technology, with the Honda Prologue (soon to be joined by an Acura vehicle) based on GM technology.

“Our collaboration with Honda and the continuing development of Ultium are the foundation of this project, utilizing our global scale to enable a lower cost foundation for this new series of EVs for millions of customers,” said Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain. “Our plans include a new all-electric product for North America positioned at a price point lower than the upcoming Chevrolet Equinox EV, building on the 2 million units of EV capacity the company plans to install by the end of 2025.”