Honda Invests In CATL, Set To Jointly Develop EV Batteries

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  • Honda has acquired approximately one per cent of CATL shares through the non-public issuance of stocks
  • The two companies said that they will conduct joint development on NEVs batteries and joint R&D into fundamental technologies

Contemporary Amperex Technology Co., Limited (CATL) and Honda have signed an agreement to form a comprehensive strategic alliance on new energy vehicle batteries. They aim to strengthen their strategic partnership and promote the popularisation of electrified vehicles. They added that this collaboration will enable the two companies to begin discussions on a broad range of areas including joint development, stable supply, and the recycling and reuse of batteries.

Honda has acquired approximately one per cent of CATL shares through the non-public issuance of stocks. Through the non-public issuance of stocks, CATL will strengthen its battery development and further expand production capacity.

Toshihiro Mibe, senior managing officer, executive in charge of Monozukuri (Research and Development, Production, Purchasing, Quality, Parts, Service, Intellectual Property, Standardization and IT), Honda Motor Co, Lt said, “This alliance enables Honda to further strengthen its partnership with CATL. As the speed of electrification continues to increase, CATL will be a partner that will give Honda new strength, and we believe that our long-term alliance will enable Honda to further increase the competitiveness of our electrified products. Honda will continue its challenges toward offering joy and freedom of mobility and the realization of a sustainable society.”

Battery recycling and reuse

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The two companies said that they will conduct joint development on NEVs batteries and joint R&D into fundamental technologies, aiming for their future application. CATL will provide the supply of NEV batteries to Honda, mainly for battery electric vehicles (BEVs). The first model equipped with a CATL battery is scheduled to be launched in the Chinese market in 2022. They also stated that battery recycling and reuse also will be a topic in further discussions between CATL and Honda.

Zhou Jia, president of CATL said, “Honda is a key player in global electrification. Through this strategic cooperation, CATL and Honda will establish a stronger global partnership. We are working together to deliver more competitive products and solutions to global electrification, and to finally achieve a clean and pleasant style of mobility.”

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