Honda, GM to share EV parts

The Japanese automaker Honda is strengthening ties with General Motors to share components for electric vehicles.

They aim to shorten the time needed to develop new models, and keep up with the wave of electrification taking place around the world.

People familiar with the arrangement say the two carmakers will standardize parts, including the base structure, or platform, as well as motors and batteries.

These will be used in cars for the North American market.

Honda will develop platforms for small and medium-sized cars. GM will make them for larger models.

The two companies already collaborate on a range of products, including gas-powered cars, EVs, and fuel-cell vehicles.

Their latest tie-up comes amid a global push to cut carbon emissions.

The European Union plans to ban sales of gas-powered cars from 2035, including hybrids.

The US has announced it will raise the ratio of electric and other models that don't produce exhaust to 50 percent of new vehicles sold in 2030.

Honda and GM eventually plan to stop making engine-powered cars altogether.