Honda Motor Co has formed a partnership with trading company Hanwa Co to ensure stable supplies of metals used in batteries for electrified vehicles, the Japanese automaker said on Tuesday. Honda will be able to source base metals such as nickel, cobalt and lithium through the partnership in the medium to long term, it said in a statement.
Acquiring these features will be one of many challenges for automakers around the world as stricter environmental regulations accelerate the production and sale of cleaner, electrified cars. Honda said it chose Hanwa for its strength in sourcing. This year, Honda has set a goal of launching 30 electrified vehicle (EV) models worldwide and producing more than 2 million EVs annually by 2030. By 2040, it aims to sell only fully electric vehicles and electric cars with fuel cells.
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