Honda Motor announced that, in December 2021, it signed a joint development agreement with SES Holdings Pte. Ltd.in the area of Lithium-metal rechargeable batteries. Moreover, SES plans to list on the New York Stock Exchange (NYSE) via a special-purpose acquisition company (SPAC) transaction, and through the PIPE (private investment in public equity) offering by the SPAC, Honda plans to acquire approximately 2% of the shares of SES AI Corporation, the company to be listed on NYSE.
Honda has been concurrently looking into several options for next-generation batteries, including all-solid-state batteries Honda is developing independently. This joint development agreement with SES is part of the overall battery strategy of Honda.
From here onward, Honda and SES will pursue joint research for the realization of safe, high-durability and high-capacity next-generation EV batteries.
Recognizing the advanced technologies of SES, Honda signed a joint development agreement with SES with the aim to establish a good relationship with SES and expeditiously generate substantial achievements through our joint research activities. Honda will continue to establish collaborative relationships with companies which have advanced technologies, as needed, to offer highly-competitive and attractive EVs to our customers.—Shinji Aoyama, Managing Executive Officer in Charge of Electrification, Honda Motor
In November 2021, unveiled Apollo, a 107 Ah Li-Metal battery that is the largest in the world and is targeted at the automotive industry. (Earlier post.)
SES has addressed the dendrite safety problem associated with Li-metal batteries by coating lithium metal with a polymer coating and using a high-concentration electrolyte that suppresses the formation of dendrites. SES’ strategy is to dominate in the lithium metal battery market by first commercializing a hybrid method that combines a liquid electrolyte and a solid coating, which is easier to implement than an all-solid solution.
SES has already accumulated a slate of high-profile partners and investors, including Geely, General Motors, Hyundai, Kia, Koch, LG, SK, Tianqi Lithium and Vertex Ventures.