CATL agreed development of Lithium-ion EV batteries with Honda

PR77345

TOKYO, Feb. 5, 2019 /PRNewswire=KYODO JBN/ --

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.

SOURCE:Contemporary Amperex Technology Co., Limited