Japanese automaker Honda and Mitsubishi Corp are associated together in order to help EV owners, to get the most out of their electric vehicles and batteries. Both of these two companies signed an MoU freshly. This heats up the discussion of new EV business that will enable Honda and Mitsubishi power as the industry moves towards electric mobility at a fast pace.
To be precise, the motive of this merger is to increase value for EV owners via optimal vehicle and battery use.
As it prepares “for the era of full-fledged popularization of EVs,” Honda CEO Toshihito Mibe explained, “Honda will not only sell EVs but take a proactive approach to energy management, where EV batteries will be utilized as an energy source.”
In addition to this, Honda will start by enhancing the value of the batteries. Those are being installed in its forthcoming mini-EV models. This is set to roll out by next year in Japan. The venture aims to deploy an advanced battery monitoring system. This is to ascertain and raise the value of each battery throughout its lifetime. Starts from powering EVs to using them as stationary energy storage.
Post retired, it will be recycled, therefore by reusing battery materials. Honda reveals that it will enable to minimize the total cost of ownership for EV owners. The new business will also help EV owners, to optimize energy use with services like smart charging. Also, vehicle-to-grid (V2G), and renewable energy sources.
With a smart charging system, the system will automatically adjust EV charging time in order to avoid peak rates. Honda states that this will offer more opportunities for EV owners in order to save money through lower utility bills.