BEIJING / TOKYO (Reuters) – Japan’s Honda Motor Co Ltd will buy a stake in Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology (CATL) and the two will jointly expand EV batteries, corporations said Friday.
The measurement occurs at a time when automakers and electric vehicle battery brands join forces to pursue an electric future. CATL, at Ningde, said last year that it would expand batteries with Honda and also supply batteries to Tesla, Toyota and Volkswagen AG.
Honda and CATL said in a statement that they would expand battery technologies and look for a battery recycling company. Honda will launch its first CATL battery electric vehicle in China in 2022 and expand the partnership with a strong source of electric vehicle batteries internationally in the future.
Honda has established a number of partnerships to manufacture electric cars, adding a joint venture with the Chinese GAC in which the Japanese manufacturer began promoting its first all-battery electric vehicle, the Everus VE-1 SUV in China last year.
It has also partnered with Hitachi Ltd’s auto parts subsidiary to develop, produce and sell engines for use in gas hybrids, plug-in hybrids and battery electric cars.
For the North American market, Honda has partnered with General Motors Co to expand two new vehicles. Both are also running in the progression of hydrogen fuel mobile vehicle technology.
CATL is building a battery plant in Germany and plans to expand into North America. He has a Yokohama in nearby Tokyo. Its Shenzhen listed shares closed to about 200 yuan ($28.54) on Friday.
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