TOKYO, Jan 19, 2022 – Honda Motor Co., Ltd. today says in December 2021, it signed a joint development agreement in the area of Lithium-Metal secondary batteries with SES Holdings Pte Ltd, a U.S. (Boston)-based EV battery research and development company.
Moreover, SES plans to list on the New York Stock Exchange (NYSE) via a special-purpose acquisition company (SPAC) transaction.
Through the PIPE offering by the SPAC, Honda plans to acquire approximately 2% of the NYSE-listed SES AI Corporation. On the other hand, PIPE means private investment in public equity.
Battery is a crucial component of battery electric vehicles (EV) and Honda has been concurrently looking into several options for next-generation batteries. This includes the all-solid-state batteries Honda is developing independently.
This joint development agreement with SES is part of the overall battery strategy of Honda. Meanwhile, the Japanese car maker is accelerating electrification of its products on a global basis.
From here onward, Honda and SES joint research is to produce safe, high-durability and high-capacity next-generation EV batteries.
However, Shinji Aoyama, Managing Executive Officer in Charge of Electrification, Honda Motor says the company is looking into several options.
“The battery is an essential component of EVs. Honda has been concurrently looking into several options toward the realization of high-capacity, safe and low-cost next-generation batteries.
“Recognizing the advanced technologies of SES, Honda signed a joint development agreement with the aim to establish a good relationship. This will expeditiously generate substantial achievements through our joint research activities.
“Honda will continue to establish collaborative relationships with companies which have advanced technologies, as needed. This will offer highly-competitive and attractive EVs to our customers.”
Honda is also interested in solid-state batteries and has collaborated with the Japanese government, Toyota, and Nissan to develop the technology.
The automaker also collaborates on new energy vehicle batteries with China-based Contemporary Amperex Technology Co Limited (CATL).
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