Honda and GS Yuasa to invest $3B for battery development

  • Investing.com
  • Stock Market News
Honda and GS Yuasa to invest $3B for battery development
Credit: © Reuters.

The Nikkei news reports Thursday that Honda Motor Co (NYSE: HMC ) alongside battery maker GS Yuasa Corp. (TYO: 6674 ) will invest over ¥400 billion (¥1 = $0.0075) and team up to produce batteries for electric vehicles (EVs) and homes.

The report states that the companies will start by building a new plant in Japan, targeting a production capacity of at least 20 gigawatt hours. A joint-venture, which the companies unveiled in January, will play a central role in the development of batteries and materials as well as capital investment, the Nikkei said.

Japan's Ministry of Economy, Trade and Industry would provide a subsidy of about ¥150B, the newspaper added, without specifying whether that would be only for building the factory.

According to Reuters, a Honda spokesperson said the report was not something it had announced, and there was nothing it could answer about it at this point, while a ministry official said the same.

Shares of HMC are up 2.31% in afternoon trading on Thursday.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search