Honda acquired the world’s largest battery maker, the Chinese giant CATL
Contemporary Amperex Technology, better known as CATL, is one of the most important players in the sphere of the electric car, supplying practically all manufacturers and managing every link in the value chain, from raw materials to battery cells, passing through the recycling process. In fact it is the largest battery manufacturer in the world.
Now Honda and CATL have signed an agreement , which includes the purchase of shares by Honda, to form a strategic alliance that will include the joint development of batteries and the supply to the Japanese firm.
Honda buys 1% of CATL shares
As reported by Honda, this agreement will allow the two companies to start discussions in a wide range of areas including joint development, stable supply, and recycling and reuse of batteries.
The Japanese brand has wanted to ensure the supply of batteries by acquiring 1% of the shares of the Chinese supplier, making it a strategic partner of the giant.
The first Honda model equipped with a CATL battery is slated to launch on the Chinese market in 2022.
CATL products are found in the vehicles of almost every major global car brand, and starting this month they will also power Tesla’s electric cars at its new factory on the outskirts of Shanghai.
CATL, which supplies batteries to Volkswagen, Toyota, BMW, Apple, has five lithium-ion battery factories; four of them in China and one on the way in Germany.