Honda And Hanwa Alliance, Stable Procurement Of Battery Materials

Image Source: Reuters

Honda has formed an alliance with Hanwa Co., Ltd., a Japanese-based trading company, to procure essential metals for batteries required for its electrified vehicles.

Via this partnership, it will secure the medium to long term supply of necessary materials, e.g., nickel, cobalt and lithium.

This new establishment is to realize Honda’s carbon neutrality goal for all of its products and corporate activities by 2050.

Of which, it is aiming to make battery-electric vehicles (EVs) and fuel cell electric vehicles (FCVs) represent 100% of its global vehicle sales by 2040.

Toward this target, Honda is planning to launch 30 EV models globally by 2030, with production volume of more than 2 million units annually.

In short, Honda will continue working with a wide range of suppliers to ensure a stable supply of needed resources that will enable it to steadily execute its electrification strategy.