Honda and Mitsubishi team up to explore ways to improve value for EV owners

Japanese automakers Honda and Mitsubishi Corp are teaming up to help EV owners get the most out of their vehicles and batteries.

Honda wants to optimize value for EV owners

The two businesses signed an MoU on Thursday, sparking discussions of a new EV business that will leverage Honda and Mitsubishi’s strengths as the industry transitions to electric mobility.

Ultimately, the goal is to increase value for EV owners through 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.”

Honda will start by maximizing the value of the batteries installed in its upcoming mini-EV models, scheduled to roll out next year in Japan.

The venture plans to deploy an advanced battery-monitoring system to manage and enhance the value of each battery throughout its lifetime, from powering EVs to using them as stationary energy storage.

(Source: Honda)

After it’s retired, it will be recycled. By reusing battery materials, Honda says it will help reduce the total cost of ownership for EV owners.

The new business will also help EV owners optimize energy use with services like smart charging, vehicle-to-grid (V2G), and renewable energy sources.

(Source: Honda)

Through a smart charging system, the system will automatically adjust EV charging time to avoid peak rates. Honda said this will offer more opportunities for EV owners to save money through lower utility bills.

Electrek’s Take

Several automakers have introduced energy management tech to help EV owners get the most out of their vehicles.

From the sounds of it, Honda and Mitsubishi’s new EV business will be similar to Tesla Powerwall with the ability to charge when electricity costs are low, discharging them when they’re high.

Honda Prologue Elite (Source: Honda)

Honda will begin rolling out its first global electric SUV, the Prologue, early next year. Powered by GM’s Ultium platform, the electric SUV will feature an expected 300 miles of range with starting prices in the upper $40,000s.

The Prologue is Honda’s first volume electric vehicle out of 30, aiming to reach two million EV sales globally by 2030. Honda’s luxury brand Acura is launching its first EV, the ZDX, next year.

In 2025, Honda plans to launch a mid-to-large EV featuring its new E&E architecture based on its in-house platform.

Honda also revealed the affordable electric N-Van e last month to help revamp sales in its home market of Japan.