Financial News
Honda and Hanwa Establish Strategic Partnership for Stable Procurement of Essential Metals
September 07, 2022 at 05:06 AM EDT
TOKYO, Sep 7, 2022 - (JCN Newswire) - Honda Motor Co., Ltd. (Honda) today announced that it has established a strategic partnership with Hanwa Co., Ltd. (Hanwa), a major Japan-based trading company, toward stable procurement of essential metals for batteries necessary for its electrified vehicles.
To realize carbon neutrality for all of its products and corporate activities by 2050, Honda is striving to make battery-electric vehicles (EVs) and fuel cell electric vehicles (FCVs) represent 100% of its global vehicle sales by 2040. Toward this target, Honda is planning to launch 30 EV models globally by 2030 with production volume of more than 2 million units annually.
For steady execution of its electrification strategy, Honda established a strategic partnership with Hanwa, a major trading company that has strengths in the field of resource procurement. Through this partnership, Honda will ensure stable procurement in the medium to long term, of essential metals necessary for batteries such as nickel, cobalt and lithium, positioning the mined resources secured by Hanwa at the core.
Honda will continue working with a wide range of suppliers to ensure stable supply of necessary resources, that will enable Honda to steadily execute its electrification strategy leading to the realization of Honda's carbon neutrality goal.
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