German automakers Volkswagen and Honda have announced a joint venture to build 1 million electric vehicles by 2021.

The two companies are jointly developing the electric cars that would be produced under a “hybrid” technology, according to a press release from the two companies.

The new cars would feature a combination of electric motors and electric powertrains, along with “other technologies that are being developed by the Volkswagen Group,” the press release said.

“By 2020, we expect to be able to deliver more than 1 million vehicles,” Honda said.

“We are very pleased that our joint venture partner, Volkswagen, has agreed to provide the support for this important development.”

Honda has announced it plans to build a total of 4.8 million electric SUVs, with 1.3 million to be produced in the US and Canada.