Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 7, according to the official Wechat account of Honda, Honda Technology Research Industry (China) Investment Co., Ltd. (hereinafter referred to as: Honda China) signed an agreement with Dongfeng Automobile Group Co., Ltd. (hereinafter referred to as: Dongfeng Automobile Group) and Guangzhou Automobile Group Co., Ltd. (hereinafter referred to as: GAC GROUP) on August 31, 2022. The power battery purchasing company, Zhongrui (Beijing) Trading Services Co., Ltd. (English name: HDG (Beijing) Trading Service Co.,Ltd), will be established by the end of September 2022.

In addition, Honda China and Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as: Ningde Times) signed a memorandum of strategic cooperation, the two sides will further strengthen the strategic partnership, in order to accelerate the promotion of electrification, build a long-term and stable power battery supply and demand system.

Honda China said that at present, Guangzhou Auto Honda Automobile Co., Ltd. (hereinafter referred to as: Guangzhou Automobile Honda) and Dongfeng Honda Automobile Co., Ltd. (hereinafter referred to as: Dongfeng Honda) respectively purchase pure electric vehicle power batteries from Ningde era, and will be centrally purchased by the new company in the future to achieve efficiency improvement. In addition, based on the Yichun plant under construction in the Ningde era, Honda and Ningde will negotiate to achieve a more efficient logistics system in the areas of intensive production and battery recycling, ensuring a long-term and stable supply of power batteries and further enhancing competitiveness.

CTOnews.com learned that in 2020, Honda and Ningde era signed an omni-directional strategic cooperation agreement on power batteries for new energy vehicles, covering a wide range of areas such as joint development, stable supply, recycling and reuse of power batteries. The establishment of this new company will further strengthen the strategic cooperation with Ningde era, expand the product lineup of Honda brand pure electric vehicles and consolidate the supply and demand system of power batteries.

Honda plans to continue to launch 10 EVR N brand pure electric vehicles to China by 2027. With the launch of eHonda N brand products, Honda is providing new brand experience through offline sales channels and online cloud showroom sales model. GAC Honda and Dongfeng Honda have also opened the construction of new electric vehicle factories. Through the above measures, Honda is making every effort to accelerate the electrification. The establishment of the new company is a further consolidation and deepening of the Honda electrification strategy. In the future, Honda will continue to carry out various electrification initiatives covering the value chain to achieve the vision of carbon neutrality in 2050 at an early date.

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