TOKYO, Japan — Honda Motor Co., Ltd. and Mitsubishi Corporation this week announced plans to establish a new 50/50 joint venture company, ALTNA Co., Ltd. , in July 2024. The new JV is based on the memorandum of understanding the two companies signed in October 2023 to begin discussions toward the creation of new businesses in light of anticipated growth in the electric vehicle market toward a decarbonized future society.
By combining Honda control and connected technologies for EVs and batteries and MC power-generation know-how, which extends to the administration of storage-battery systems and smart-charging operations, ALTNA will strive to offer new mobility services that reduce the total cost of ownership for EV users and create new power-supply operations that enable long-term utilization of EV batteries.
Moreover, ALTNA will proceed with consideration toward offering V2G*4 services with an eye toward the opening up of the electricity market in the future.*1 SOH : One of the parameters that indicate the state of battery deterioration.