CATL agrees to develop lithium-ion EV batteries with Honda

TOKYO, Feb. 5, 2019 / -- Contemporary Amperex Technology Co., Ltd. (CATL) signed a cooperation agreement with Honda Motor Co., Ltd. (Honda) in Tokyo on February 4th to formally cooperate to develop electric vehicles for the future market.

According to the agreement, CATL will become Honda's partner in the field of lithium-ion EV batteries, and will provide reliable power support for Honda's electrification. CATL will guarantee supply Honda with about 56 GWh of lithium-ion EV batteries before 2027. In 2016, Honda officially announced its strategy to accelerate electrification: its global sales of the electric vehicles including HEV, PHEV, and EV will reach 65% of the group in 2030. Also, at the Beijing Motor Show in 2018, it officially announced that more than 20 electric vehicles would be launched in China by 2025. The cooperation models, which developed by Honda and CATL together, will be introduced to global markets beyond China.

In order to provide more effective localization service support, CATL will set up a local office in the first half of this year in Utsunomiya, the location of the Honda R&D Co., Ltd., Automobile R&D Center in Tochigi. "Customer-centered is the philosophy that CATL has always insisted on. We hope that we can establish more efficient communication channels, more timely response mechanisms, and establish a closer relationship for further cooperation," said Naosumi Tada, head of CATL's Japanese subsidiary. "Honda and CATL have been worked closely on advanced and reliable battery solutions for Honda's future electric vehicle applications. In the future, we will support Honda not only in China, Japan, but also to create world-leading electric vehicles that serves global consumers."

As a top player of Japanese auto, Honda has great accumulations of traditional automotive technology and successful market experience. CATL is the leader in the EV battery industry. With its strong scientific R&D, manufacturing strengths and excellent product performance, CATL has been widely accredited by global top tier automobile companies. The cooperation between the two parties is a deep integration of the traditional automobile and electrification technology for the future. CATL enters Japanese automobile enterprise supply chain which is known as "artisan spirit" with mature and reliable EV battery solutions. CATL is going to help Honda to integrate resource advantages in the electric vehicle industry and assist Honda to accelerate electrification and seized the opportunity of the "car revolution".

In this win-win cooperation, Honda and CATL are closely engaged in technical exchanges and upgrades, they are committed to creating a clean, technological and efficient way for transportation for global consumers, and continue to create new value for the global new energy industry.