GM's innovations intend to cut electric battery costs in half -- which is huge, given their typical pricetag between $10,000 and $12,000, sources told Reuters earlier in the year. The deal will help Honda speed up EV production after 2020. It's not the automaker's first collaboration with GM: In early 2017, the pair went in together on a Michigan factory dedicated to producing hydrogen fuel cells to power their vehicles. But given the auto industry's increasingly expansive investments in electric vehicles -- GM included -- this is a savvy move to get more EVs on the road.