www.sentrypc.com

POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada

SEOUL, South Korea/TOKYO, Japan, Apr 29, 2024 – (JCN Newswire) – POSCO Future M Co., Ltd. and Honda Motor Co., Ltd. today announced that they have reached a basic agreement on collaboration for the production of cathode materials for automotive batteries in Canada. The two companies will begin detailed discussions with the goal of signing a joint venture agreement before the end of 2024.

Based on discussion of a comprehensive partnership toward the realization of carbon neutrality which began in April 2023, the two companies had been considering the possibility of cooperating in the procurement of key battery materials, which resulted in this basic agreement.

Cathode materials are one of the key materials for batteries, which are the key component of electric vehicles (EVs), and the stable procurement of high-quality cathode materials will strengthen the business structure for both companies. The purpose of this basic agreement is to steadily execute respective electrification strategies by ensuring steady procurement of high-performance batteries in the North American electrification market, where mid- to long-term growth is expected. The two companies will proceed with discussions toward the establishment of a joint venture company which will supply cathode materials for EV batteries for EVs Honda will produce mainly for the North American market.

The two companies will share each other’s strengths, such as high value-added material technologies and electrification technologies, to produce high-quality cathode materials to be utilized for EV batteries. This will enable the realization of high-performance EVs, which will lead to the acceleration of respective initiatives toward carbon neutrality.

News URL: https://www.acnnewswire.com/press-release/english/90538/

URL: https://plus.google.com/110355594819754396833 | Facebook : https://www.facebook.com/HondaJP | Twitter : https://twitter.com/HondaJP | Youtube : https://www.youtube.com/user/HondaJPPR | Linkedin : https://jp.linkedin.com/company/honda

More From RunAroundTech.com

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

DON'T MISS

The VAUNJLA Compressed Air Duster with Flashlight

The VAUNJLA compressed air duster with flashlight is perfect for cleaning electronics, appliances, and other delicate items with a powerful blast of air.

BMW’s Next-Generation Engine Technologies

Let’s explore how BMW’s latest generation of engines blends tradition with transformation—engineered to push the limits of performance, efficiency, and driving emotion.

MORE FROM RUNAROUNDTECH.COM

Why IoT Matters in Modern Car Safety Systems

Explore why IoT matters in modern car safety systems—from adaptive tech and smart lighting to predictive alerts and real-time emergency response.

Impressive Advancements in Reality Capture Technology

Explore the latest breakthroughs in reality capture technology and learn how they’re reshaping industries like construction and real estate.