Honda and CATL, the Chinese battery manufacturer, have signed an agreement to develop technology for its next generation of electric vehicles (EV).
The joint venture will also include initiatives for battery recycling and reuse, as well as battery supply for future Honda vehicles.
Honda recently released its new Honda e EV in the UK and its first model with CATL batteries is scheduled to launch in the Chinese market in 2022.
Honda has acquired 1% of CATL’s shares through non-public issuance of stocks, which will make the Japanese manufacturer a leading strategic partner of the Chinese company in the future.
Toshihiro Mibe, Honda Motor senior managing officer of research, development, production purchasing, quality, parts, service, intellectual property, standardisation and IT, 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 enable Honda to further increase the competitiveness of our electrified products.”