Asahi Kasei Corporation and Honda Motor Co., Ltd. have signed a shareholders’ agreement that will solidify the two companies’ cooperation. Specifically, they agree to convert an existing Asahi Kasei subsidiary in Canada into a joint venture company.
Accordingly, the collaboration will cover the production of lithium-ion battery separators in Canada based on the basic agreement the two companies.

To Accelerate EVs

The two companies plan to convert E-Materials Canada Corporation (E-Materials), a wholly owned subsidiary of an Asahi Kasei subsidiary in Canada, into a joint venture. Particularly, the two companies plan to rename the new JV into Asahi Kasei Honda Battery Separator Corporation.

Honda Canada Inc., a Honda subsidiary in Canada, will acquire a 25% stake by subscribing to new shares to be issued by E-Materials through a third-party allotment. Moreover, Honda will invest approximately C$417 million (approximately US$300 million). Specifically, combining the subscription of new shares and other investments in this joint venture. The two companies will combine each other’s strengths, such as high-value-added material technologies and electrification technologies, to produce high-quality separators for use in lithium-ion batteries that will accelerate the realization of high-performance electrified vehicles.

The two companies plan to establish and start the operation of the joint venture company in early 2025.
Ryu Taniguchi, President & Representative Director, Asahi Kasei Battery Separator Corp., said, “At the beginning of October we launched Asahi Kasei Battery Separator as a new company for the Hipore™ separator business. Specifically, to achieve more nimble management for this essential component of lithium-ion batteries.”
In addition, Taniguchi said they expect to continue to leverage the technology and experience gained with HIpore to realize innovations in batteries.

“As Honda strives toward the goal of carbon neutrality by 2050, it is building a comprehensive electric vehicle value chain in Canada…together we will enhance battery performance and durability to advance the energy transition through electric vehicles. (Thus), making an important contribution to sustainability,” said Taniguchi.

Basic Agreement with Honda

Asahi Kasei and Honda have reached a basic agreement related to this project. Accordingly, the collaboration aims to establish a supply chain for the stable supply of high-performance batteries for the North American plug-in electric vehicle market. Particularly, this market will likely grow over the medium to long term. Considerations for the establishment of a joint venture to manufacture Hipore™ separator for batteries are advancing. Specifically, these batteries are for installation in EVs made by Honda and other vehicle manufacturers for the North American market.
04 November 2024