Honda Motor and GS Yuasa said they had reached a basic agreement toward collaboration for 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 of lithium ion batteries and battery production methods that will be highly competitive in the global market as well as the establishment of a supply chain for key raw materials and a highly efficient battery production system.
Based on the agreement, the two companies will work toward the establishment of a joint venture company by discussing a broad scope of collaborations including research and development of a high capacity, high output, lithium ion battery, primarily for EV use, and the required production methods; establishment and management of intellectual properties including patents related to the joint research and development; planning for products that use technology resulting from the joint research and development, and planning for the required sales channels; designing of 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 already been working together on lithium ion batteries for hybrid electric vehicles (HEVs) and this new collaboration will further accelerate our electrification strategies toward the achievement of our carbon neutrality goal.”
