Honda Motor Co Invests in CATL Battery Maker and will Jointly Develop EV Batteries

Honda announced today that it will buy a 1% stake in Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology Ltd. (CATL). The two companies said in a statement that they will jointly develop batteries for Honda's future electric vehicles. CATL is a world leader in the development and manufacture of lithium-ion energy and power storage batteries, with activities spanning R&D, manufacturing and sales of electric vehicle batteries and energy storage systems. The company is based in Ningde, China. The first Honda model equipped with a CATL battery should be launched on the Chinese market in 2022.