Honda and GS Yuasa sign JV agreement to establish new company

Honda and GS Yuasa have signed a joint venture agreement toward the establishment of a new company. As announced on January 23, 2023, 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, 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 realization of carbon neutrality, which is a goal shared by the two companies. The new company will fully leverage the strengths of both companies and establish a strong presence in the rapidly-expanding battery market.”

Andrew Taylor, managing director and CEO of GS Yuasa Battery Europe 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.”