Japanese automaker Honda Motor and trading house Mitsubishi Corp have entered into an agreement to explore new opportunities related to electric vehicle (EV) batteries. This initiative aligns with the broader shift toward battery-powered electric vehicles in the automotive industry. Both companies aim to address environmental concerns associated with used batteries.
Honda’s CEO, Toshihiro Mibe, stated that the company intends not only to sell EVs but also to actively engage in energy management, with a focus on utilizing EV batteries as an energy source. As part of their memorandum of understanding, Honda and Mitsubishi Corp plan to establish a business that monitors the usage of Honda’s mini-EV model batteries and repurposes these auto batteries for stationary energy storage. Honda is scheduled to launch sales of the EV model in Japan in 2024.
Additionally, the two companies will explore collaboration in “smart charging,” which involves optimizing the timing of EV charging for efficiency, as well as the “Vehicle to Grid” system, a technology that enables electricity stored in EVs to be supplied to the grid. This cooperation is expected to result in reduced electricity costs for customers and improved utilization of battery materials, offering benefits for both consumers and the environment.