Honda and Hanwa Establish Strategic Partnership for Stable Procurement of Essential Metals
Honda Motor Co., Ltd. (Honda) has 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.
About Honda
Honda Motor Co., Ltd is a Japanese public multinational conglomerate manufacturer of automobiles, motorcycles, and power equipment, headquartered in Minato, Tokyo, Japan.
Honda has been the world’s largest motorcycle manufacturer since 1959, reaching a production of 400 million by the end of 2019,as well as the world’s largest manufacturer of internal combustion engines measured by volume, producing more than 14 million internal combustion engines each year.[7] Honda became the second-largest Japanese automobile manufacturer in 2001.In 2015, Honda was the eighth largest automobile manufacturer in the world.
Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura, in 1986. Aside from their core automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft, power generators, and other products. Since 1986, Honda has been involved with artificial intelligence/robotics research and released their ASIMO robot in 2000. They have also ventured into aerospace with the establishment of GE Honda Aero Engines in 2004 and the Honda HA-420 HondaJet, which began production in 2012. Honda has two joint-ventures in China: Dongfeng Honda and Guangqi Honda.
In 2013, Honda invested about 5.7% (US$6.8 billion) of its revenues into research and development.Also in 2013, Honda became the first Japanese automaker to be a net exporter from the United States, exporting 108,705 Honda and Acura models, while importing only 88,357.
Source: Honda
