A Cut Above – Honda Buys Stake In EV Battery Company CATL

In Electric Mobility, Clean Talk, News, Products, Sustainability, Technology
Honda

Contemporary Amperex Technology Co., Limited (CATL) and Honda have signed an agreement to form a comprehensive strategic alliance on new energy vehicle batteries.

By bringing together the two companies’ individual technology advantages, CATL and Honda will conduct joint development on NEVs batteries and joint R&D into fundamental technologies, aiming for their future application.

CATL will provide stable 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. This alliance will be further expanded to the global level in the future.

Moreover, battery recycling and reuse also will be a topic in further discussions between the two companies.

Honda has acquired approximately 1% of CATL shares through the non-public issuance of stocks, which makes it a leading strategic partner of CATL.

This will enable them to secure a stable supply of batteries with excellent product and cost competitiveness. Through the non-public issuance of stocks, CATL will strengthen its battery development and further expand production capacity.

This is a Businesswire Feed; edited by Clean-Future Team

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