Honda Motor and GS Yuasa to form JV for lithium-ion batteries

Honda Motor Co., Ltd. and GS Yuasa International Ltd. have signed a joint venture agreement to establish a new company for high-output lithium-ion batteries, mainly for electric vehicles (EVs).

To address the rapidly growing demand for batteries, the new joint venture company, which will be named Honda GS Yuasa EV Battery R&D Co., Ltd., will research and develop lithium-ion batteries and battery production methods that will be highly competitive at a global level. Moreover, the new company will strive to establish a supply chain for key raw materials and a highly-efficient production system for its batteries.

The new company is scheduled to be established and begin operation before the end of 2023. The establishment of the new company and the start of its operation are subject to the approvals of the relevant authorities.

“We are very pleased that Honda and GS Yuasa have reached a joint venture agreement, which will become a new milestone in our pursuit of the realisation of carbon neutrality, which is a goal shared by the two companies. The new company will fully leverage the strengths of the two companies and establish a strong presence in the rapidly expanding battery market,” said Koichi Yamamoto, representative director and future president of Honda GS Yuasa EV Battery R&D Co., Ltd.

As announced on January 23, 2023, the two companies have been discussing specifics for collaboration on high-capacity, high-output lithium-ion batteries.