Honda and Mitsubishi Team Up for V2G Venture to Reduce Battery Costs

Honda and Mitsubishi have announced a groundbreaking partnership to establish a 50/50 joint venture company named ALTNA. This new venture will focus on the management and second use of electric vehicle (EV) batteries, incorporating vehicle-to-grid (V2G) technologies. ALTNA is scheduled to commence operations in July, combining Honda's expertise in EVs and batteries with Mitsubishi's power-generation knowledge.

The primary objective of this joint venture is to optimize the costs associated with EV usage and enhance the lifetime value of batteries. ALTNA will offer battery lease plans, starting with models like the Honda N-VAN e and upcoming commercial-use mini-EVs. Under these plans, ALTNA will retain ownership of the batteries and monitor their usage throughout the lease period, ensuring efficient management.

Continuous monitoring of battery conditions, including predictive maintenance to anticipate deterioration, will be a key focus for ALTNA. By supporting the batteries throughout their life cycle, from initial sale to subsequent owners, the venture aims to maximize the reliability and longevity of the battery packs.

ALTNA's innovative approach extends beyond automotive use, as it plans to repurpose end-of-life EV batteries for grid storage applications. This strategy not only reduces the initial costs of batteries and EVs but also contributes to grid stability and the widespread adoption of renewable energy sources.

In addition to its battery-related initiatives, ALTNA will introduce EV charging plans designed to optimize electricity costs for users. By leveraging advanced energy-control technologies, the company will automatically schedule charging during off-peak hours, minimizing expenses and promoting the use of renewable energy.