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Honda and Mitsubishi EV Collaboration

Honda Motor Co., Ltd. (Honda) and Mitsubishi Corporation (MC) have taken a significant step forward in the rapidly evolving world of electric vehicles (EVs) by signing a memorandum of understanding (MoU). Their mutual aim is to explore innovative business opportunities that harness the unique strengths of each company, with a primary focus on developing sustainable models for the growing electric vehicle market. This collaboration is particularly timely as the world anticipates the exponential growth of EVs.

The central thrust of this new partnership revolves around maximizing the potential of batteries in Honda’s forthcoming mini-EV models, set to hit the Japanese market in 2024. Rather than viewing these batteries as one-dimensional energy sources solely for powering vehicles, the collaboration envisions a holistic battery-monitoring system that extends their utility over their entire lifespan. These batteries will transition from exclusively propelling EVs to serving as stationary energy storage units.

One of the primary goals of this joint venture is to create a robust foundation for managing and optimizing the value of each battery. Through advanced battery-monitoring technologies, the batteries’ performance and efficiency will be continuously assessed, ensuring that they are utilized to their full potential. This approach aligns with the broader trend of energy management and the efficient use of resources as the EV market expands.

The collaborative effort will also extend its reach to benefit EV owners by offering them access to innovative vehicle-to-grid (V2G) services and green power solutions. This strategic move is backed by advanced control technologies in the field of energy management, allowing EV users to maximize their cost-efficiency and environmental impact. By tapping into these cutting-edge services, owners can better manage their electricity costs while contributing to a greener and more sustainable future.

Toshihiro Mibe, the Global CEO of Honda, emphasized the company’s forward-looking approach to the EV era. He stated that Honda is not merely focusing on selling EVs but is also actively embracing energy management as a key component of their strategy. Central to this approach is the utilization of EV batteries as dynamic energy sources, a step toward more sustainable practices. Furthermore, Honda is committed to addressing resource conservation by exploring the reuse and repurposing of EV batteries, which contain valuable rare resources.

This initiative with Mitsubishi Corporation marks the beginning of Honda’s efforts in the mini-EV sector in Japan. The company’s overarching vision is to enhance the value offered to their customers and create a sustainable business foundation that takes a long-term perspective. This objective aligns with Honda’s intention to work alongside various partners, adapting to the unique market characteristics of each region they serve. It is an encompassing strategy that positions Honda as a versatile and proactive player in the rapidly evolving landscape of electric vehicles.

Katsuya Nakanishi, President & CEO of Mitsubishi Corporation, underlined the inescapable convergence of various sectors, including mobility, energy, services, and data, all driven by a common commitment to achieving carbon neutrality. In response to this global trend, Mitsubishi Corporation is actively working to develop new business models that strike a balance between electrification and decarbonization. Their aim is to create innovative cross-industry services and reinvent themselves in response to the ever-changing times. This perspective reflects the commitment of both Honda and Mitsubishi Corporation to stay at the forefront of the EV revolution, exploring and pioneering opportunities that will shape the future of the automobile industry and beyond.

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