Automakers Honda and General Motors have ditched a $5 billion plan to create more affordable electric vehicles amidst an The manufacturers agreed in April 2022 that they would combine powers to slash the battery costs on eco cars and develop vehicles below GM's $30,000 Chevrolet Equinox. The partnership was intended to compete with 's which has . But today Honda CEO Toshiro Mibe confirmed the project had been cancelled, citing cost and logistical challenges.
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