Honda signs joint development pact with EV battery firm SES

Japanese automaker Honda Motor Co said on Wednesday it had signed a joint development agreement for lithium-metal batteries with Boston-based EV battery company SES Holdings Pty Ltd.

Honda said SES planned to list on the New York Stock Exchange via a special purpose acquisition company transaction, and that the Japanese automaker planned to buy about 2% of the listed company, SES AI Corporation.

Lithium-metal batteries are expected to achieve higher energy density than lithium-ion batteries, which are used in most battery-electric vehicles today.