Honda Partners With GS Yuasa For Lithium-Ion Batteries - Honda Motor Co (NYSE:HMC)

Honda Motor Co Ltd HMC has signed a collaboration agreement with GS Yuasa International Ltd. for a high-capacity, high-output lithium-ion battery. The financial terms of the arrangement were not disclosed.
The two companies will discuss specifics with the goal of establishing a joint venture company by the end of 2023.
The collaboration will aim for battery production methods that are competitive and also establish a supply chain for key raw materials.
The JV will include the establishment management of intellectual properties, including patents related to joint research and development.
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The broad scope includes research and development of a high-capacity, high-output lithium-ion battery, primarily for EV use, and the required production methods.
"Honda and GS Yuasa have already been working together on lithium-ion batteries for hybrid electric vehicles (HEVs), and this new collaboration will further accelerate Honda's electrification strategies toward the achievement of our carbon neutrality goal," said Toshihiro Mibe, Director, President and Representative Executive Officer of Honda.
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Price Action: HMC shares closed higher by 1.23% at $23.95 on Friday.