Honda Partners Up to Achieve Zero-Carbon Target

Honda Partners for Zero-Carbon Target A comprehensive collaboration agreement on zero-carbon initiatives has been reached between Honda, one of the world's leading Japanese automotive manufacturers, and POSCO, a South Korea-based steelmaker. According to a statement from the company, Honda, which stands out for its engineering work, continues to sign partnerships to accelerate its zero-carbon target announced in 2022 and its electrification process. Honda, which has drawn attention with its collaboration with General Motors on hydrogen vehicle research and pioneering projects with Sony Mobility, continues to announce partnerships with numerous companies including an agreement with the Japan Aerospace Exploration Agency (JAXA) and a new manufacturing facility investment with LG Energy Solution. Most recently, a comprehensive collaboration agreement on zero-carbon initiatives was concluded between Honda and POSCO, a South Korea-based steelmaker. Honda and POSCO announced that they have begun research work under this agreement. Accordingly, both Honda and POSCO will leverage each other's strengths such as environmental and electrification technologies. The two brands, seeking to further accelerate their initiatives toward carbon neutrality, decided to expand their cooperation based on a vision of a sustainable world for future generations. Under the agreement, Honda and POSCO, which continue existing business partnerships, will explore cooperation options to be implemented in key areas designated for zero-carbon targets. Among these areas, battery emerges as the most important heading in the context of electric vehicles. In particular, cooperation in the procurement of core battery materials and technical changes in battery materials in future periods are noteworthy. Under the recycling heading, promoting the use of recycled materials toward achieving a carbon-neutral society is emphasized. Additionally, establishing a closed-loop recycling system using recycled battery materials is included in the research scope. At the same time, ultra-high tensile steel that reduces vehicle weight for the use of automotive steel sheets in production, and steel that reduces greenhouse gas emissions in the production process will also be researched. Finally, the application of electrical steel sheets in serial production of drive motors for e-Axle (electric axle drive) will be included in the work. Honda Chief Executive Officer Toshihiro Mibe, whose views were included in the statement, stated that they have announced zero-carbon targets for all Honda products and corporate activities by 2050, noting that the expanded partnership with POSCO, in which they have confidence in their expertise in battery materials, recycling, steel sheets and electrical steel sheets, will also accelerate Honda's electrification strategies. POSCO Chairman Choi Jeong-Woo expressed satisfaction with the expansion of the scope of ongoing partnerships with Honda. Jeong-Woo emphasized that with Honda's electric vehicles included in battery materials research, a complete value chain can be created. Source