https://techcrunch.com/2023/10/25/gm-and-honda-punt-on-plan-to-build-millions-of-affordable-evs-together/

General Motors and long-time partner Honda have ended plans to build millions of affordable and smaller electric vehicles as the automakers come to terms with high interest rates and battery costs coupled with softening EV demand.

The end to the EV partnership comes 18 months after the two companies announced plans to co-develop affordable electric vehicles. The partnership centered around GM’s Ultium EV platform and both automakers’ robust manufacturing capabilities. Under the partnership, the automakers had expected to bring these EVs — many of which were expected to be priced under $30,000 — to North America in 2027.