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.