Honda, GS Yuasa to establish JV for making Lithium-ion batteries

Honda Motor Co., Ltd. (Honda) and GS Yuasa International Ltd. have announced that they have reached a basic agreement toward collaboration for a high-capacity, high-output lithium-ion battery. The two companies are planning to establish a joint venture company by the end of 2023 to produce li-ion batteries for global markets. 

In order to address the rapidly growing demand for batteries, the two companies claims to have reached this agreement to work toward the joint research and development of lithium-ion batteries and competitive battery production methods. 

Speaking on the development, Toshihiro Mibe, Director, President and Representative Executive Officer of Honda Motor, said, "Honda is striving to realize carbon neutrality for all products and corporate activities Honda is involved in by 2050. 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 Honda's electrification strategies toward the achievement of our carbon neutrality goal."

"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", said Osamu Murao, President and Representative Director of GS Yuasa International.

He further added, "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."

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The partners are also working on the establishment of a supply chain for key raw materials and a highly-efficient battery production system. Focus at the moment is also on the establishment and management of intellectual properties including patents related to the joint research and development, according to their joint media statement.