A shareholders’ agreement to turn an existing Asahi Kasei subsidiary in Canada into a joint venture firm was signed by Asahi Kasei Corporation and Honda Motor Co., Ltd. Based on the fundamental agreement, this agreement was the outcome of ongoing negotiations on cooperation for the production of lithium-ion battery separators in Canada.
As a joint venture between Asahi Kasei and Honda, the two businesses intend to rename E-Materials Canada Corporation (E-Materials), a wholly owned subsidiary of an Asahi Kasei subsidiary in Canada, as Asahi Kasei Honda Battery Separator Corporation (tentative name). The basis for this will be Honda Canada Inc., a Honda subsidiary in Canada, purchasing a 25% interest by purchasing new shares that E-Materials will issue through a third-party allocation. Together with the subscription of new shares and other investments, Honda will contribute roughly C$417 million (almost US$300 million) to this joint venture. The two businesses will work together to develop superior separators for use in lithium-ion batteries by combining their capabilities in electrification and high-value-added material technologies.
Subject to securing permits and approvals from the appropriate authorities, the two businesses intend to form and begin operations of the joint venture company in early 2025.
“We launched Asahi Kasei Battery Separator as a new company for the HiporeTM separator business at the beginning of October to achieve more nimble management for this essential component of lithium-ion batteries,” said Ryu Taniguchi, President & Representative Director, Asahi Kasei Battery Separator Corp. I have no doubt that we can continue to use the technology and expertise we have acquired with HiporeTM, along with our extensive global network and diversified workforce, to achieve battery advances for the energy storage of the future. In Canada, where it has operated for more than 50 years, Honda is constructing a comprehensive electric vehicle value chain as it works to achieve carbon neutrality by 2050. Our collaboration will not only create a consistent flow of separators in
