Welsh battery maker GS Yuasa and Japanese car manufacturer Honda Motor Co said they agreed to collaborate on high-capacity, high-output lithium-ion batteries aimed at the electric vehicle (EV) market.
They plan to establish a joint venture by the end of 2023. They will work toward the joint research and development of lithium-ion batteries and battery production methods that will be highly competitive in the global market.
They also aim to establish a supply chain for key raw materials and a highly-efficient battery production system.
The collaboration will cover areas such as intellectual property and patents, and supply chain for key raw materials.
Honda said they and GS Yuasa have already been working together on lithium-ion batteries for hybrid electric vehicles.
