By Kosaku Narioka


Honda Motor Co. is setting up a joint venture in Beijing with Dongfeng Motor Group Co. and Guangzhou Automobile Group Co. to procure batteries, part of the Japanese car maker's bid to strengthen its electric-vehicle strategy in China.

Honda said Wednesday that it has also agreed with Contemporary Amperex Technology Co. to buy batteries for its car ventures in China via the new JV to improve operational efficiency.

Honda said it will hold a 50% stake in the joint venture, which will be established at the end of September, while Dongfeng and Guangzhou Automobile will each have a 25% interest.

The Japanese company has been taking steps to improve its EV supply chain recently.

The auto maker had said Tuesday that it has formed a strategic partnership with Japan's Hanwa Co. to ensure the stable procurement of EV battery metals such as nickel, cobalt and lithium.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

09-07-22 0036ET