The two companies plan to convert E-Materials Canada Corporation (E-Materials), a wholly owned subsidiary of an Asahi Kasei subsidiary in Canada, into a joint venture between Asahi Kasei and Honda to be renamed Asahi Kasei Honda Battery Separator Corporation (tentative name).
This will be based on Honda Canada Inc., a Honda subsidiary in Canada, acquiring a 25 percent stake by subscribing to new shares to be issued by E-Materials through a third-party allotment.
Honda will invest a total of approximately Canadian $417 million (approximately US$300 million) combining the subscription of new shares and other investment in this joint venture. The two companies will combine each other’s strengths, such as high value-added material technologies and electrification technologies, to produce high-quality separators to be utilised for lithium-ion batteries that will accelerate the production of high-performance electrified vehicles.
The two companies plan to establish and start the operation of the joint venture company in early 2025, subject to obtaining permits and approvals from relevant authorities.
“At the beginning of October we launched Asahi Kasei Battery Separator as a new company for the Hipore separator business to achieve more nimble management for this essential component of lithium-ion batteries” said Ryu Taniguchi, President & Representative Director, Asahi Kasei Battery Separator Corporation. “As Honda strives toward the goal of carbon neutrality by 2050, it is building a comprehensive electric vehicle value chain in Canada, where it has a history of conducting business for more than 50 years. Our partnership will not only establish stable supply of separators in North America, together we will enhance battery performance and durability to advance the energy transition through electric vehicles, making an important contribution to sustainability.”
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