The automakers want to build batteries with higher energy density, smaller packaging and faster charging capabilities.
Honda and General Motors have announced an agreement to jointly develop next-generation batteries for use in upcoming electric vehicles.
Like other automakers, the duo aims for better batteries with higher energy density, smaller packaging and faster charging capabilities.
Some rivals are working on solid-state batteries to achieve such leaps in performance and packaging, but Honda and GM will be working to improve GM's existing plans for next-generation battery technology. The batteries will be mainly focused on the North American market.
"This new, multiyear agreement with Honda further demonstrates General Motors' capability to innovate toward a profitable electric portfolio," said GM development chief Mark Reuss.
The comment hints at the challenge automakers face in making electric vehicles that provide sufficient range without losing money due to expensive battery packs. Tesla's strategy started with a $100,000+ roadster and led to the $35,000 Model 3 as battery prices continued to fall. Honda and GM believe their combined manufacturing capabilities will ultimately reduce costs via greater scale.