Honda Motor Co., Ltd. and GS Yuasa International Ltd. announced that they have reached a basic agreement toward the collaboration on 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 (R&D) of lithium-ion batteries. They will also develop battery production methods that will be highly competitive in the global market. Moreover, they will cooperate on the establishment of a supply chain for key raw materials and a highly efficient battery production system.
Create Joint Venture Company
Based on the agreement, the two companies will work toward the establishment of a joint venture company by discussing a broad scope of collaborations. Specifically, they will cooperate on R&D of a high-capacity, high-output lithium-ion battery. Such battery is primarily for use in electric vehicles (EV). They will also cooperate on the required production methods.
Also, they will establish and manage intellectual properties including patents related to the joint R&D.
The two companies will plan for products that utilize technologies resulting from the joint R&D. They will also plan for the required sales channels. Also, both of them will design an efficient production operation including the supply chain for key raw materials.
“Honda is striving to realize carbon neutrality for all products and corporate activities Honda is involved in by 2050. Honda and GS Yuasa have been working together on lithium-ion batteries for hybrid electric vehicles (HEVs). This new collaboration will further accelerate Honda’s electrification strategies toward the achievement of our carbon neutrality goal,” said Toshihiro Mibe, Director, President and Representative Executive Officer of Honda Motor.
“Based on our corporate philosophy of ‘Innovation and Growth,’ GS Yuasa has been taking on challenges to create energy technologies while amassing a broad range of knowledge and know-how related to batteries. 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,” Osamu Murao, President and Representative Director of GS Yuasa.