The new Honda-Hanwa partnership is expected to secure EV battery minerals for the Japanese automaker.
As of writing, the giant car developer hasn't introduced its own electric vehicle models to the rising EV market.
But, Honda recently confirmed that it aims to launch 30 electric cars this coming 2030. Now, its latest collaboration with Hanwa, clearly shows that the automaker is committed to keeping its promise.
For those who are not familiar with Hanwa, it is an industry-leading Japanese global trading company.
Established back in 1947, this business has been selling non-ferrous metals, chemicals, petroleum, as well as steel.
Honda-Hanwa Partnership Secures EV Battery Minerals
According to Electrek's latest report, the new partnership between Honda and Hanwa is critical.
This is because the latest collaboration can allow the Japanese carmaker to have enough battery minerals.
These include nickel, cobalt, and lithium, all high in demand. Honda said that it chose Hanwa because of the company's strength when it comes to resource procurement, as reported by Reuters.
As of writing, Honda is just one of the foreign automakers partnering with other companies to secure battery minerals and components.
This trend began when the Biden Administration passed the Inflation Reduction Act into law.
Ever since it arrived, many carmakers have been racing to develop and manufacture electric cars in the United States.
They are making drastic efforts to have the law's incentives. Because of this, the competition in the EV industry is becoming more serious than ever.
Can Honda's New Partnership Help With Its EV Goal?
Since the new partnership of Honda with Hanwa is a big one, there's a chance that the EV battery minerals that the collaboration can secure will help the automaker achieve its EV goal in 2030.
Aside from launching a total of 30 new electric car models, Honda also claimed that it will produce around two million units each year starting in 2030.
The automaker added that it will be able to complete its EV transition by 2040. But, experts stated that Honda and other Japanese carmakers are also focusing on their hydrogen vehicles.
Because of this, critics believe they will have difficulty achieving their EV goals.
Previously, the new Honda Prologue was expected to be the first electric SUV of the company in the United States.
Meanwhile, the Sony Honda Mobility was recently confirmed.
For more news updates about Honda and its EV efforts, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
