Honda forms partnership to secure supply of battery metals (updated)

Hanwa

06/09/2022 03:49

(Adds background)
    TOKYO, Sept 6 (Reuters) - Honda Motor Co  7267.T  has formed
a partnership with trading company Hanwa Co  8078.T  to secure
stable supply of metals used in batteries for electrified
vehicles, the Japanese automaker said on Tuesday.
    Honda will be able to obtain essential metals such as
nickel, cobalt and lithium through the partnership in the medium
to long term, it said in a statement.
    Procurement of those elements will be among many challenges
for automakers worldwide as stricter environmental regulations
accelerate production and sales of cleaner, electrified cars.   
    Honda said it had picked Hanwa for its strength in resource
procurement. 
    This year Honda laid out a target to roll out 30 electrified
vehicle (EV) models globally and produce more than 2 million EVs
a year by 2030.  urn:newsml:reuters.com:*:nL2N2WA025 It aims at selling only fully
electric vehicles and fuel cell electric vehicles by 2040.

 (Reporting by Satoshi Sugiyama; Editing by Tom Hogue and
Bradley Perrett)
 ((Satoshi.Sugiyama@thomsonreuters.com;))