The Japanese automobile manufacturer Honda Motor Co. announced on Tuesday that it has created a collaboration with the trade company Hanwa Co. in order to assure a stable supply of metals that are used in the batteries for electric vehicles.
According to a statement released by the company, through the cooperation, Honda will have the opportunity to acquire critical metals such as nickel, cobalt, and lithium in the medium to long term.
As a result of stronger environmental rules, the manufacturing and sales of cleaner, electric automobiles are accelerating, which presents a number of issues for automakers around the world, including the procurement of these materials.
Honda stated that it selected Hanwa due to Hanwa’s superiority in the acquisition of resources.
This year, Honda established a goal to produce more than 2 million electric vehicles annually by the year 2030 and to launch 30 new electrified vehicle (EV) models across the globe by that year. By the year 2040, the company plans to sell nothing except completely electric vehicles and fuel cell electric vehicles.