Honda Motor Co., Ltd. (Honda) and GS Yuasa International Ltd. (GS Yuasa) have announced that they have signed a joint venture agreement toward the establishment of a new company.
As announced on January 23, 2023 with a joint press release titled, “Honda and GS Yuasa Reach Basic Agreement Toward Collaboration for a High-capacity, High-output Lithium-ion Battery,” the two companies have been discussing specifics for collaboration on high-capacity, high-output lithium-ion batteries, mainly for 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.
Koichi Yamamoto, Representative Director and President (to be) of Honda・ GS Yuasa EV Battery R&D Co., Ltd., said: “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.”
Andrew Taylor, Managing Director and CEO of GS Yuasa Battery Europe Ltd. added, “The news of this new joint venture signifies a major step forward for both GS Yuasa and Honda. By pooling resources, expertise and shared vision, GS Yuasa International are poised to lead the charge in EV battery innovation. The advancements being made in Japan are indicative of the company’s commitment to the innovation and development of future technologies, which present promising growth opportunities for the future.”
In addition to the production of lithium-ion drivetrain and lithium-ion starter batteries, GS Yuasa also offers an extensive range of lead acid automotive batteries designed for vehicles of all types.
With a local presence across Europe, the company prides itself on delivering products that combine advanced technology with outstanding reliability.
GS Yuasa Europe is a trusted partner of thousands of automotive businesses, consistently meeting the evolving demands of the industry and vehicle parc. By focusing on excellent customer service, supply, training and support, the manufacturer has earned a reputation as the go-to supplier for leading workshops and technicians.
To find out more about GS Yuasa in Europe visit www.gs-yuasa.eu
Date published: 31 May 2023