Mitsubishi Corporation (MC) and Honda Motor Co., Ltd. (Honda) have formally signed a memorandum of understanding (MoU) to begin working together to build cutting-edge companies in the electric vehicle (EV) market. The main goal of this alliance is to go into the EV ecosystem’s undiscovered regions and find fresh ways to improve the value proposition that consumers receive from their EV and EV battery business endeavors.
In a recent development, it was revealed that Mitsubishi Corporation (MC) and Honda Motor Co., Ltd. (Honda) have signed a memorandum of understanding (MoU) to work together to establish new enterprises in the electric vehicle (EV) area. Through their EV and EV battery business endeavors, this partnership’s main goal is to delve into the unexplored waters of the EV ecosystem.
Aim behind the Honda and Mitsubishi MoU Signing
The Battery Lifetime Management Business is one of the main topics of this cooperation project. This program aims to maximize the performance of the batteries intended for Honda‘s forthcoming mini-EV cars, which are expected to debut on the Japanese market in 2024. This company will use a cutting-edge battery-monitoring system with a focus on durability and sustainability. This system will be crucial in ensuring that each battery is used to its full potential and transitions into a second life as stationary energy storage after serving as a power source for EVs.
In addition to managing the battery lifecycle, the cooperation intends to improve how EV customers charge their vehicles. Customers can leverage green, renewable power sources and the Vehicle-to-Grid (V2G) and Smart Charging capabilities under the Smart Charging and V2G Energy Management Business. As they strive to explore new opportunities in the EV area, Honda and Mitsubishi, which both have a major global presence in the automotive industry, will work together.
Toshihiro Mibe, global CEO of Honda, spoke on the occasion and stated, “Honda will not only sell EVs, but also take a proactive approach to energy management, where EV batteries will be utilized as an energy source, and we are also focusing on resource circulation, including the reuse and repurposing of EV batteries, which contain various rare resources.”
