Honda and Mitsubishi unite to innovate in electric vehicle age

Honda Motor Co., Ltd. and Mitsubishi Corporation have inked a memorandum of understanding (MoU), heralding a new era of collaboration aimed at innovating within the burgeoning electric vehicle (EV) market. This partnership is poised to explore sustainable business models, leveraging the combined strengths of both corporations to enhance the value proposition for customers in the EV and EV battery sectors.

A focal point of this alliance is the Battery Lifetime Management Business, an initiative to optimise the value of batteries installed in Honda’s upcoming mini-EV models. Slated for a 2024 release in Japan, these vehicles will benefit from a sophisticated battery-monitoring system that transitions the batteries from vehicular power sources to stationary energy storage units, ensuring their utility throughout their lifecycle.

Furthermore, the partnership will delve into Smart Charging and Vehicle-to-Grid (V2G) Energy Management Business. This venture aims to equip EV users with tools to optimise electricity costs, offering smart charging and V2G services, complemented by access to renewable power sources. These innovations are geared towards enhancing energy consumption efficiency and contributing to environmental conservation.