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Today’s Research Reports on Stocks to Watch: General Motors and Honda Team

NEW YORK, NY / ACCESSWIRE / October 4, 2018 / While shares of General Motors were in the green on Wednesday, shares of Honda were down nearly 4% on news that both companies have teamed up to build a new autonomous vehicle.

RDI Initiates Coverage on:

General Motors Company

Honda Motor Co., Ltd.

General Motors Company shares were up 2.10% at the close yesterday on trading volume more than twice as high as usual on the news that the company has partnered with Honda for large-scale deployment of autonomous vehicle technology. According to Honda's press release, Honda will be working with Cruise and General Motors to fund and develop a purpose-built autonomous vehicle for Cruise. This is the logical next step in General Motors and Honda's relationship, given our joint work on electric vehicles, and our close integration with Cruise," said General Motors Chairman and CEO Mary Barra. "Together, we can provide Cruise with the world's best design, engineering and manufacturing expertise, and global reach to establish them as the leader in autonomous vehicle technology – while they move to deploy self-driving vehicles at scale." Cruise CEO Kyle Vogt remarked, "With the backing of General Motors, SoftBank and now Honda, Cruise is deeply resourced to accomplish our mission to safely deploy autonomous technology across the globe. The Honda partnership paves the way for massive scale by bringing a beautiful, efficient, and purpose-built vehicle to our network of shared autonomous vehicles."

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Honda Motor Co., Ltd. shares closed down 3.58% on about 1 million shares traded on Wednesday. The stock may have closed in the red but the company had some exciting news yesterday. Honda said it is teaming up with General Motors on self-driving vehicle technology. A Honda executive, Seiji Kuraishi, stated, "Honda chose to collaborate with Cruise and General Motors based on their leadership in autonomous and electric vehicle technology and our shared vision of a zero-emissions and zero-collision world." Honda said it will invest $2.75 billion in the autonomous vehicle unit run by General Motors Co., called GM Cruise and will take a 5.7 percent stake in Cruise Holdings. According to GM's president Dan Ammann, the new autonomous vehicle is the “next evolution in the future of transportation,” and will be produced at high volume for global deployment. Sam Abuelsamid, a Navigant Research analyst remarked, "As companies move from the research phase into the production phase, there's a lot of additional complexity that has to be added to those already complex systems."

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Our Actionable Research on General Motors Company (NYSE: GM) and Honda Motor Co., Ltd. (NYSE: HMC) can be downloaded free of charge at Research Driven Investing.

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