DETROIT — General Motors’ latest strategy: Give and take.
Partnerships with Honda Motor Co., electric vehicle startup Nikola Corp. and battery supplier LG Chem show GM’s willingness to share technology and manufacturing power for the mutual benefit of itself and its allies. The approach also can shave the massive costs required to become an EV leader.
GM CEO Mary Barra says the partnerships will give the automaker greater scale and drive down costs more quickly, which will be key to unlocking the EV market. Morgan Stanley predicts the Ultium batteries GM plans to make with LG Chem will be used in more than 5 million EVs annually by 2040, including more than a million non-GM vehicles.