Honda Motor and GS Yuasa International have signed a joint venture agreement to establish a new company named Honda GS Yuasa EV Battery R&D which will research and develop lithium-ion batteries and battery production methods.
The new company will also establish a supply chain for key raw materials and a production system for batteries.
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The new company is scheduled to be established and begin operations before the end of 2023, subject to the approvals of the relevant authorities.
Koichi Yamamoto, president-designate of Honda GS Yuasa EV Battery R&D, said: “The new company will fully leverage the strengths of the two companies and establish a strong presence in the rapidly expanding battery market.”
The company will be based in Kyoto.
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By GlobalData
