Heaptalk, Jakarta — Japanese automobile company Honda Motor established a partnership with Mitsubishi Corporation to explore the electric vehicle battery business (10/12). By signing a memorandum of understanding, both parties will leverage their respective strengths to build sustainable business models for the EV and EV battery business.
In more detail, the new business aims to maximize the value of the EV battery that will be installed in Honda’s mini-EV models which will be available in the Japanese market in 2024. With an advanced battery monitoring system, the new business will manage and expand the value of the battery throughout its lifetime. Additionally, this system is also able to convert batteries from powering EVs to stationary energy storage.
According to Global CEO of Honda Toshihiro Mibe, in preparing for the era of the overall popularity of electric vehicles, the company will not only sell EVs but will also take a proactive approach to energy management. Through this approach, EV batteries will be used as an energy source. Apart from that, Honda focuses on resource circulation as well, including the reuse of EV battery, which contain various scarce resources.
“Starting with this initiative with MC in the area of mini-EVs in Japan, Honda will strive to maximize the value we offer to our customers and build a foundation for sustainable business from a long-term perspective, while working with a variety of partners and accommodating the unique market characteristics of each region,” Toshihiro said.
Providing access to smart charging and V2G services
Further, Honda Motor and Mitsubishi Corp will provide access to several services, including smart charging, vehicle-to-grid (V2G) services, and green energy power which utilizes control technologies for the energy management system.
The smart charging system automatically adjusts EV charging times to avoid peak load periods and optimize energy consumption. Meanwhile, in the V2G system, EVs will not only be charged with the electricity from the grid but also supply electricity to the grid to help meet local electricity needs.
President and CEO of Mitsubishi Corporation Katsuya Nakanishi conveyed that the convergence of diverse sectors such as mobility, energy, services, and data is an irreversible trend. He said examples of this can be seen all over the world as companies strive to become carbon neutral and new business models such as MaaS and CASE in the automobile industry begin to develop.
“MC is aiming to develop its own new business models that balance electrification and decarbonization, to create new cross-industry services, and otherwise reinventing ourselves in keeping with the times,” Katsuya concluded.
