Honda and GS Yuasa Sign Joint Venture Agreement To Establish New Company, Honda - GS Yuasa EV Battery R&D Co., Ltd.
TOKYO, May 12, 2023 - (JCN Newswire) - Honda Motor Co., Ltd. (Honda) and GS Yuasa International Ltd. (GS Yuasa) today announced that they have signed a joint venture agreement toward the establishment of a new company.
- TOKYO, May 12, 2023 - (JCN Newswire) - Honda Motor Co., Ltd. (Honda) and GS Yuasa International Ltd. (GS Yuasa) today 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.
- The new company will fully leverage the strengths of the two companies and establish a strong presence in the rapidly expanding battery market."