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GM, Honda Seek North America Alliance to Share Car Platforms

  • Automakers join forces to free up funds for new technologies
  • Cruise investment seen presaging possible broader tie-up
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General Motors Co. and Honda Motor Co. are laying the groundwork for a deeper partnership in North America to jointly develop gasoline engines and crossover SUVs, seeking to cut costs as the auto industry moves toward electric vehicles.

The two automakers signed a non-binding memorandum of understanding to establish a North American automotive alliance, they said in a statement Thursday. While each manufacturer will sell vehicles under its own U.S. and Japanese brands, the companies will cooperate in areas such as parts and materials purchasing, research activities and connected-car services.