Japanese auto manufacturer Honda and battery producer GS Yuasa plan to form a joint venture this year to co-operate on manufacturing lithium-ion (Li-ion) batteries with high capacity and output for electric vehicles (EVs).
The partners have agreed to jointly research and develop Li-ion batteries for EVs, manage relevant intellectual properties, design and sell products incorporating the research and developments results, build a supply chain of raw materials and outline production operations. But they did not disclose further details including timelines.
Honda has accelerated its efforts in securing EV batteries. The company also formed a Li-ion battery joint venture with South Korean battery producer LGES, aiming to begin commercial operations of a 40GWh/yr production plant in the US' Ohio by 2025. Honda has signed a supply agreement with China's largest battery producer CATL to receive 123GWh of batteries for Honda EVs produced in China between 2024-30.
