Honda and GS Yuasa to set up battery joint venture
Honda Motor and GS Yuasa have reached a basic agreement toward collaboration for a high-capacity, high-output lithium-ion battery. The two companies will discuss specifics with the goal of establishing a joint venture company by the end of 2023.
In order to address the rapidly growing demand for batteries, the two companies reached this agreement to work toward the joint research and development of lithium-ion batteries and battery production methods, as well as the establishment of a supply chain for key raw materials and a highly-efficient battery production system.
“Honda and GS Yuasa have already been working together on lithium-ion batteries for hybrid electric vehicles (HEVs), and this new collaboration will further accelerate Honda’s electrification strategies toward the achievement of our carbon neutrality goal," says Toshihiro Mibe, Director, President and Representative Executive Officer of Honda Motor, in the press release
Based on the agreement, the two companies will work toward the establishment of a joint venture company by discussing collaborations including the R&D of a high-capacity, high-output lithium-ion battery, primarily for EV use, and the required production methods; planning for products that utilise technologies resulting from the joint R&D and planning for the required sales channels. Adding to this the companies will also work towards designing an efficient production operation – including the supply chain for key raw materials
“Through this new collaboration with Honda, we will contribute to further diffusion of electric vehicles, offer enhanced comfort and peace of mind to customers worldwide and strive to create new value for the realization of carbon neutrality,” says Osamu Murao, President and Representative Director of GS Yuasa International Ltd.