GM and Honda are setting their sights on making cheaper EVs

General Motors Co. and Honda Motor Co. are setting their sights on “affordable” electric vehicles, saying Tuesday they are expanding their collaboration.

The EVs would be built on a new architecture and use GM’s battery technology. The goal is to produce “millions” of EVs globally starting in 2027, including compact crossovers, the body style U.S. buyers have favored for years, the companies said.

GM…