Updated Jun 18, 2018

GM–Honda battery partnership could improve charge times, reduce costs

General Motors CEO Mary Barra speaks at the annual meeting of shareholders at GM world headquarters in Detroit on June 12, 2018. Photo: Bill Pugliano via Getty Images

GM and Honda recently announced a deal to co-develop next-generation battery systems for future electric vehicles (EVs) in North America. Named the EME 1.0, the battery system relies on GM internal designs and is said to have a smaller footprint than current commercial models. Honda will procure battery systems from GM as part of this arrangement.

Why it matters: The firms will share development resources and costs­ to improve battery charge times while maintaining high energy density. In addition to their smaller footprint, these batteries could cut manufacturing and materials costs up to 50%.

The background: News of this collaboration follows Honda and GM's January announcement of a joint venture for hydrogen fuel-cell manufacturing, also for EV use. The joint venture, Fuel Cell System Manufacturing LLC, is the first of its kind between two automakers, with plans for production to start in 2020.

What's next: Production of the EME 1.0 isn’t expected to start until 2021. GM has announced plans to release at least 20 EV models into the market by 2023, and Honda has also announced several EV models in the upcoming years.

The big picture: While there have been other joint ventures to deliver cost-effective EV battery systems in the past, they've primarily occurred between automaker and supplier, and in China and Europe. The two automakers' decision to share resources, technology and intellectual property could lead the way to faster development and deployment of cost-attractive options for EV battery systems.

Maggie Teliska is a technical specialist at Caldwell Intellectual Property, an intellectual property law firm. She is also a member of GLG, a platform connecting businesses with industry experts.

Go deeper

Your best defense against coronavirus

Photo: Adrian Greeman/Construction Photography/Avalon/Getty Images

Washing your hands is the best way to protect against the novel coronavirus, according to doctors and health officials, as the virus continues to spread around the globe.

Why it matters: Clean hands can stop germs from spreading in a community, a known characteristic in COVID-19 and influenza.

Go deeperArrow41 mins ago - Health

Major League Soccer embarks on its 25th season

Illustration: Aïda Amer/Axios

As Major League Soccer begins its 25th season, the league is financially stable and surging in popularity, and its 26 teams have gorgeous facilities and rapidly increasing valuations.

  • It also continues to expand, with David Beckham's Inter Miami and Nashville SC set to debut this season as the 25th and 26th teams. Plans are in place to reach 30 franchises by 2022 — triple the number from 2004.

Wall Street falls 3% as coronavirus correction worsens

raders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks fell more than 3% on Friday morning, pushing stocks further into correction territory.

Why it matters: It continues the ugly stretch for Wall Street that began after a spike in coronavirus cases around the world. The S&P is 15% below its recent peak, edging closer to the mark that would technically end the market’s decade-long rally.

Go deeper: The growing coronavirus recession threat