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GM open to developing EVs with rivals, CEO says

General Motors Co. is willing to cooperate with other automakers to develop electric vehicles, the company's chief executive said Aug. 1.

Speaking during a second-quarter earnings call, GM Chairman and CEO Mary Barra said the company is open to working with other carmakers and has an existing relationship with Honda Motor Co. Ltd. to develop battery technology and electric vehicle components.

"It definitely provides savings from an engineering perspective and has scale benefits as well," Barra added.

GM and Honda have been developing battery systems for both electric and autonomous vehicles since 2018. In May, the two carmakers teamed up to find out whether EVs can be used to generate electricity for smart grids.

The Detroit-based automaker reported second-quarter earnings on Aug. 1 that beat Street expectations as strong truck sales in North America helped offset weakness in China. GM expects sales in China to remain soft throughout 2019.