ALTNA’s energy-control technologies will also enable EVs to charge automatically during off-peak times.
Honda and Mitsubishi will create a 50/50 joint venture to promote the expansion of EVs, beginning with an innovative lease plan for the new Honda N-VAN e:.
The new company, named ALTNA, will collaborate with leasing divisions at Honda and Mitsubishi. When a customer leases the compact electric van, ALTNA will retain ownership of the battery and track its usage throughout the lease period. Honda and Mitsubishi claim that continuous monitoring of the battery will enhance its reliability.
Once the battery pack has completed its service in a vehicle, ALTNA will reclaim it for use in a grid storage battery business. The company will repurpose end-of-life EV batteries for these grid storage solutions.
By reusing retired EV battery packs, ALTNA states it can set lease prices “based on the assumption that batteries will be utilized” beyond the vehicle’s lifecycle, making EVs more affordable. These lease plans will be available exclusively through Honda’s online store in Japan.
When a battery pack reaches the end of its life, ALTNA will recycle it.
The Honda and Mitsubishi joint venture will also offer EV charging plans in Japan. By leveraging its energy-control technologies, the company will help EV owners avoid charging during peak hours, enabling automatic charging when electricity costs are lowest. Additionally, the system will optimize the use of renewable energy during charging.
“With an eye toward the future popularization of EVs, Honda is working to establish a vertically integrated EV value chain encompassing all aspects of the EV business, from raw material procurement to the production of finished EVs, as well as the repurposing and recycling of EV batteries,” said Honda director, president, and representative executive officer Toshihiro Mibe.
“We are very pleased to establish a new company with MC, which has extensive knowledge of the electric power business and shares our aspiration to achieve a decarbonized society.
Starting with the N-VAN e:, we will proactively establish a sustainable business foundation not only for EV sales as mobility products but also to create an optimal EV business environment, including full utilization of batteries, which we believe is crucial for the popularization of EVs.”
