Honda and SES signed a joint development agreement for lithium-metal batteries

On January 19, Honda Motor announced that it had signed a joint development agreement for lithium-metal batteries with SES, a boston electric vehicle battery research and development company in Boston, last Year. In addition, SES plans to list on the New York Stock Exchange through a transaction with a Special Purpose Acquisition Company (SPAC), after which Honda plans to acquire approximately 2% of SES' shares.

Batteries are an important part of electric vehicles. The energy density of lithium metal batteries is expected to be higher than that of lithium-ion batteries, and at present, most electric vehicles use lithium-ion batteries. Currently, Honda is exploring several viable next-generation batteries, including an all-solid-state battery that the company is independently developing. Honda is accelerating the transition to electrification of its products globally, and the joint development agreement with SES is part of Honda's overall battery strategy.

Shinji Aoyama, Honda's CEO in charge of electrification, said, "Honda recognizes SES's advanced technology, so it has signed a joint development agreement with SES and established a good cooperative relationship with SES. Honda hopes to achieve substantial results as soon as possible through joint research and development. Honda will continue to build partnerships with companies with advanced technologies and provide competitive and attractive electric vehicles to our customers. ”

(Image source: Honda)

Recently, Honda has been making frequent moves in the field of electrification, especially strengthening its electrification cooperation with other companies in the United States. Honda will soon announce the establishment of a new electric vehicle plant in the U.S., and expects to announce the location of the plant soon. Still, the company has questions about how much demand for electric cars and electric pickups is in the U.S. market. As part of a joint development agreement with General Motors, Honda will launch two pure electric vehicles in the U.S. in 2024, with GM providing batteries for Honda. Honda has accelerated its plans to electrify its product lines in line with industry trends and shifts in government policy, but remains cautious about the penetration of electric vehicles.

In addition, Honda will also establish a battery joint venture with LG New Energy in the United States. The battery joint venture between LG New Energy and Honda could cost up to 4 trillion won ($3.4 billion) and have an annual battery capacity of up to 40 GWh, enough to supply batteries for 600,000 electric vehicles. But details about when the joint venture will be established and when it will begin operations have not been revealed.