CATL and Honda sign agreement to form alliance on new energy vehicle batteries

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  • Alliance will include joint development of batteries for new energy vehicles (NEVs) and joint R&D into next-generation fundamental technologies.
  • Stable supply of NEV batteries from CATL to Honda.
  • Two companies will further expand their discussion on a battery recycling and reuse.
  • Honda has acquired CATL shares through CATL’s non-public issuance of stocks.

Contemporary Amperex Technology Co., Limited and Honda have signed an agreement to form a comprehensive strategic alliance on new energy vehicle batteries to strengthen their strategic partnership and promote the popularization of e-mobility. This agreement will enable the two companies to begin discussions on a broad range of areas including joint development, stable supply, and the recycling and reuse of batteries.

Working Together to Speed up the Realization of Respective Strategies for Electrified Vehicles

By bringing together the two companies’ individual technology advantages, CATL and Honda will conduct joint development on NEVs batteries and joint R&D into fundamental technologies, aiming for their future application. CATL will provide stable supply of NEV batteries to Honda, mainly for battery electric vehicles (BEVs). The first model equipped with a CATL battery is scheduled to be launched in the Chinese market in 2022. This alliance will be further expanded to the global level in the future. Moreover, battery recycling and reuse also will be a topic in further discussions between CATL and Honda.

CATL is a technology company that is committed to providing advanced battery solutions for global new energy application, with businesses covering R&D, manufacturing and sales of battery systems for new energy vehicles and energy storage systems. Honda is a mobility company with motorcycles, automobiles, Life Creation (power products) and aircraft businesses around the globe, and is currently accelerating its initiatives to electrify its products on a global basis. By strengthening technological cooperation and the competitive supply system, CATL and Honda will strive to realize global electrification together.

Capital Cooperation to Strengthen Sustainable Strategic Partnership

Honda has acquired approximately 1% of CATL shares through the non-public issuance of stocks, which makes Honda a leading strategic partner of CATL. This will enable Honda to secure a stable supply of batteries with excellent product and cost competitiveness. Through the non-public issuance of stocks, CATL will strengthen its battery development and further expand production capacity, etc. Based on this alliance, the two companies will strengthen initiatives to further popularize electrified vehicles and establish a long-term relationship.

Zhou Jia, President of CATL commented that, Honda was a key player in global electrification. Through this strategic cooperation, CATL and Honda would establish a stronger global partnership. The companies are working together to deliver more competitive products and solutions to global electrification, and to finally achieve a clean and pleasant style of mobility.

Toshihiro Mibe, Senior Managing Officer, Executive in Charge of Monozukuri (Research & Development, Production, Purchasing, Quality, Parts, Service, Intellectual Property, Standardization and IT), Honda Motor Co., Ltd. stated that, the alliance enabled Honda to further strengthen its partnership with CATL. As the speed of electrification continued to increase, CATL would be a partner that would give Honda new strength, and they believed that their long-term alliance would enable Honda to further increase the competitiveness of their electrified products. Honda would continue its challenges toward offering joy and freedom of mobility and the realization of a sustainable society.

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