Battery maker Contemporary Amperex Technology (CATL) is partnering with vehicle OEM Honda to develop new lithium-ion batteries for use in electric vehicles as well as recycling.
The agreement will strengthen the companies’ strategic partnership and allow both firms to conduct joint development on EV batteries and conduct joint R&D into fundamental technologies.
CATL will provide Honda with a supply of lithium-ion batteries, mainly for electric vehicles. The first model equipped with CATL batteries is due to be launched in the Chinese market next year.
Battery recycling and reuse also will be discussed between CATL and Honda.
Honda has acquired around 1% of CATL shares through the non-public issuance of stocks, which makes Honda a leading strategic partner of CATL.