Honda and Mitsubishi Corp Join Forces to Maximize EV Battery Usage

In a collaborative effort, Japanese automaker Honda Motor and trading house Mitsubishi Corp have signed a pact to explore new opportunities in the field of electric vehicle (EV) batteries.

Credits: REUTERS

The companies aim to address the challenges associated with battery disposal and environmental impact after their use in electric vehicles.

Honda's CEO, Toshihiro Mibe, stated that the company's approach goes beyond simply selling EVs. They are committed to actively managing energy, utilizing EV batteries as a valuable energy source. The memorandum of understanding between Honda and Mitsubishi Corp focuses on monitoring the usage of Honda's mini-EV model battery and transferring the auto battery to stationary energy storage.

As part of their partnership, Honda plans to launch sales of the EV model in Japan by 2024. The companies will also collaborate on "smart charging," which optimizes the timing of EV charging for efficiency, and the "Vehicle to Grid" system, which enables the supply of electricity stored in EVs to the grid.

The ultimate goal of this collaboration is to benefit customers by reducing electricity bills and maximizing the use of battery materials. By exploring innovative solutions for EV battery utilisation, Honda and Mitsubishi Corp aim to contribute to the sustainable development of the electric vehicle industry.

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• Honda Motor and Mitsubishi Corp have signed a pact to explore new business opportunities related to EV batteries.

• The companies aim to address the environmental impact and disposal challenges associated with EV batteries.

• Honda plans to actively manage energy by utilizing EV batteries as an energy source.

Source: REUTERS