Asian Tech Press (Apr. 6) -- The veteran automaker General Motors Co. (GM) and Japan's Honda Motor Co on Tuesday announced a partnership to develop "affordable" electric vehicles (EVs), in a bid to beat Tesla in sales.

Two automakers said in a statement that they are codeveloping a series of affordable electric vehicles based on a new global architecture using next-generation Ultium battery technology, and working together to enable global production of millions of EVs starting in 2027.

According to GM CEO Mary Barra, the pricing will come in below the $30,000 price tag planned for the electric Chevrolet Equinox SUV.

She said the new vehicle is part of GM's plan to surpass Tesla in EV sales.