LARRY SPRUILL, LOCAL 4.
>> Jason: AN AWFUL STORE.
>> Kim: GENERAL MOTORS MADE AN
ANNOUNCEMENT THAT MIGHT LEAVE
MANY SHAKING THEIR HEADS.
THE COMPANY SIGNED AN AGREEMENT
WITH HONDA TO WORK TOGETHER TO
BUILD CARS AND TECHNOLOGY.
BUSINESS EDITOR ROD MELONI IS
LIVE DOWNTOWN WITH WHAT EXACTLY
IS GOING ON HERE.
HI, ROD.
>> Rod: KIMBERLY, A FRIEND OF
MINE, DAVE COLE, A WELL-KNOWN
MINE, DAVE COLE, A WELL-KNOWN
AUTO ANALYST, SAID IT’S CALLED
CO-OPETITION.
WE SHOULD HAVE SEEN IT COMING.
GM AGREED TO WORK WITH HONDA ON
ELECTRIC VEHICLES.
TODAY’S ANNOUNCEMENT TAKES IT TO
THE NEXT LEVEL WITH A MEMORANDUM
OF UNDERSTANDING CREATING AN
ALLIANCE TO DEVELOP ADVANCED AND
NEXT TECHNOLOGY.
SOME VEHICLES WILL BE GM
UNDERNEATH WITH RHONDA BODIES ON
TOP.
ENGINEERING BEGINS IN EARLY
2021.
GM PRESIDENT MARK ROYCE SAID
GIVEN OUR STRONG TRACK RECORD OF
COLLABORATION, THE COMPANIES
WERE REALIZE SIGNIFICANT
SYNERGIES IN TODAY’S VEHICLE
PORTFOLIO.
THE INDUSTRY IS CHANGING BEFORE
OUR EYES.
>> ALL OF THE AUTOMAKERS KNOW
THAT EVENTUALLY ELECTRIFICATION
AND CONNECTIVITY WILL BE OUR WAY
OF LIFE.
THAT’S NOT FAR OFF IN THE
FUTURE, BUT THEY HAVE TO MAKE
INVESTMENTS NOW.
AND THOSE INVESTMENTS ARE HUGE!
AND THOSE INVESTMENTS ARE HUGE!
AND THERE’S NO PAYBACK ANYTIME
SOON.
>> Rod: IF YOU WANT CONNECTIVITY
LIKE ONSTAR --
>> IT WAS LIKE STAND ALONE, BUT
THE WAY WE’RE HEADED IN THE
FUTURE IS PROBABLY NOT PLAUSIBLE
FOR THEM TO TAKE THIS ALL ON BY
THEMSELVES.
>> Rod: IT’S NOT LIKE IT’S NEW.
THEY’VE BEEN DABBLING IN THIS
KIND OF THING.
THE SATURN VUE, THE
UNDERPINNINGS OF THAT CAR WERE
HONDA.
SO GENERAL MOTORS HAS DONE THIS
BEFORE, BUT NOT TO THIS SCALE.
AND THEY HAVE A LOT RIDING ON
THIS BECAUSE THEY’RE HOPING FOR
MILLIONS UPON MILLIONS IN
