Salem Radio Network News Tuesday, July 5, 2022

Science

Honda signs joint development pact with Boston-based EV battery R&D firm SES

TOKYO (Reuters) – Japanese automaker Honda Motor Co said on Wednesday it had signed a joint development agreement for lithium-metal batteries with Boston-based EV battery company SES Holdings Pte Ltd.

In a statement, Honda said SES planned to list on the New York Stock Exchange via a special-purpose acquisition company (SPAC) transaction, and that the Japanese automaker planned to buy about 2% of the listed company, SES AI Corporation.

Lithium-metal batteries are expected to achieve higher energy density than lithium-ion batteries, which are used in most battery-electric vehicles today.

(Reporting by Chang-Ran Kim; Editing by Muralikumar Anantharaman)

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