News

Nov 05, 2024

Asahi Kasei, Honda form JV for lithium-ion battery separators

Japan’s Asahi Kasei and Honda Motor have signed a shareholders agreement to convert an existing Asahi Kasei subsidiary in Canada into a joint venture aimed at producing lithium-ion battery separators.

Japan’s Asahi Kasei and Honda Motor have signed a shareholders agreement to convert an existing Asahi Kasei subsidiary in Canada into a joint venture aimed at producing lithium-ion battery separators.

The two companies plan to convert E-Materials Canada Corporation (E-Materials), a wholly owned subsidiary of an Asahi Kasei subsidiary in Canada, into a joint venture between Asahi Kasei and Honda to be tentatively renamed Asahi Kasei Honda Battery Separator Corporation, according to a media release.

This will be based on Honda Canada Inc acquiring a 25% stake by subscribing to new shares to be issued by E-Materials through a third-party allotment.

Honda will invest a total of approximately USD 300 million combining the subscription of new shares and other investment in this joint venture.

The two companies will combine each other’s strengths, such as high value-added material technologies and electrification technologies, to produce high-quality separators to be utilized for lithium-ion batteries that will accelerate the production of high-performance electrified vehicles, the media release said.

The JV is expected to start operations in early 2025.

“At the beginning of October we launched Asahi Kasei Battery Separator as a new company for the Hipore separator business to achieve more nimble management for this essential component of lithium-ion batteries” said Ryu Taniguchi, President & Representative Director, Asahi Kasei Battery Separator Corporation. “As Honda strives toward the goal of carbon neutrality by 2050, it is building a comprehensive electric vehicle value chain in Canada, where it has a history of conducting business for more than 50 years.”

Taniguchi added that the partnership would establish a stable supply of separators in North America and “enhance battery performance and durability.”