Honda Motor and GS Yuasa said they reached a basic cooperation agreement for a high-capacity, high-performance lithium-ion battery. The two companies will discuss details with the goal of forming a joint venture company by the end of 2023.
In order to meet the rapidly growing demand for batteries, the two companies have entered into this agreement to work towards joint research and development of lithium-ion batteries and battery production methods, which will be highly competitive in the world market, and building a Supply chain for key raw materials and a high-efficiency battery production system.
Based on the agreement, the two companies will work towards establishing a joint venture company by discussing a wide range of collaborations, including research and development of high-capacity, high-power lithium-ion battery, mainly for use in electric vehicles, and the required production methods; Establishment and management of intellectual property, including patents, related to joint research and development; Planning of products that use technologies resulting from the joint research and development and planning of the necessary distribution channels; Designing an efficient production operation including the supply chain for key raw materials.
Toshihiro Mibe, Director, President and Representative Executive Officer of Honda Motor, said: “Honda and GS Yuasa have previously collaborated on lithium-ion batteries for hybrid electric vehicles (HEVs), and this new collaboration will further accelerate our electrification strategies towards our carbon neutrality goal .â€