Honda signs omni-directional strategic cooperation agreement with Ningde era on new energy vehicle power battery

SMM News: Honda and Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as "Ningde Times") signed an omni-directional strategic cooperation agreement on new energy vehicle power batteries to strengthen the promotion of electric vehicles and accelerate the strategic partnership. This strategic cooperation will cover the joint development, stable supply, recycling and other areas of power batteries.

Accelerate the realization of the strategic goal of electrification

Honda and Ningde era will combine the technological advantages of both sides to jointly develop new energy vehicle power battery and future battery basic technology. Through this cooperation, Honda will get a stable supply of Ningde era batteries, which are mainly composed of pure electric vehicle (BEV) batteries. Chinese-made new energy vehicles equipped with Ningde era power batteries are expected to be first launched to the Chinese market in 2022, and the two sides will also explore expanded cooperation in the global field in the future. In addition, the two sides will also discuss the recovery and reuse of power batteries in the future.

Honda is a global manufacturer of mobile tools for motorcycles, automobiles, Life Creation and aircraft, accelerating electrification in the field of electric vehicle development. Ningde era focuses on the research, development, production and sales of new energy vehicle power battery system and energy storage system, and is committed to providing first-class solutions for global new energy applications. The two sides will jointly achieve the goal of global electrification by strengthening technical cooperation and a strong battery supply system.

Honda will participate in about 1% of Ningde Times share subscription.

Honda will participate in Ningde Times' subscription for the private offering, with a share of about 1 per cent. By investing in stock options, Honda will become an important strategic partner in Ningde era. Ningde Times will provide Honda with power battery solutions with market competitiveness and life cycle cost advantages and maintain a stable supply. The funds obtained from the non-public offering will be used for power battery research and upgrading and capacity expansion projects in the Ningde era. The two sides will promote the global electrification process through technical cooperation and a highly competitive battery supply system.

Honda Technology Research Industry Co., Ltd. specializes in Monozukuri as the third part of Minhong said: "through this cooperation, the partnership between Honda and Ningde era has been strengthened. In order to accelerate electrification, Ningde era is a partner that can provide new strength to Honda. It is believed that the establishment of a long-term alliance can further enhance the competitiveness of Honda products in the field of electrification. Honda will continue to provide the joy of free movement and contribute to the sustainable development of society in the future. "

Zhou Jia, president of Ningde Times, said: "Honda is the backbone of electrification. Through this strategic cooperation, Honda and Ningde era will establish a closer global partnership." Facing the world, the two sides will join hands to create more competitive electrified products and solutions, and work together to achieve a clean, comfortable and pleasant mobile travel life. "

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