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Honda and Hanwa establish strategic partnership for stable procurement of essential metals for EV batteries

Honda Motor has established a strategic partnership with Hanwa, a major Japan-based trading company, toward stable procurement of essential metals for batteries necessary for its electrified vehicles.

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.

Hanwa, with its Primary Metal Department and Battery Team, has been intensively expanding its critically important minerals including not only above key metals for battery cathodes but also graphite (natural & synthetic), silicon and black mass for battery anodes and recycling products.

Hanwa will keep responding to increasing demand while expanding its supply ability through partnerships with the resource suppliers and smelting/refining companies, off-takes, and investments etc.

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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