Rebecca Coons 2024-11-08 08:26:10
Asahi Kasei Corp. and Honda Motor Co. announced on Nov. 1 that they have signed a shareholders’ agreement to convert E-Materials Canada Corp., an Asahi Kasei subsidiary building a lithium-ion (Li-ion) battery separators plant in Canada, into a joint venture.
Honda Canada Inc., a Honda subsidiary, is acquiring a 25% stake in the JV, tentatively named Asahi Kasei Honda Battery Separator Corp., by subscribing to new shares to be issued by E-Materials through a third-party allotment. Honda will invest a total of approximately C$417 million, combining the subscription of new shares and other investment in the JV.
The JV will operate a ¥180.0 billion ($1.1 billion) film and coating Li-ion battery separator plant that Asahi Kasei announced in April 2024 it would build at Port Colborne, Ontario. Commercial startup is expected in 2027. The separators will be used in batteries installed in electric vehicles made by Honda and other manufacturers for the North American market.
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