Honda to set up China venture with Dongfeng, Guangzhou Auto to procure EV batteries Financial Eye News


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TOKYO (Financial Eye) -Honda Motor Co said on Wednesday its Chinese unit will establish a joint venture with Dongfeng Motor Group and Guangzhou Automobile Group Co to procure batteries for fully electric vehicles. The automaker's Chinese division has also agreed to strengthen its existing partnership with CATL, the world's largest battery maker, to ensure a stable supply of batteries, it said in a statement. At present, Honda's joint ventures to manufacture and sell four-wheel vehicles in China, Dongfeng Honda and Guangqi Honda, receive their batteries separately from CATL. The latest change, however, will allow battery procurement to be centralised through...