Honda Builds Demonstration Production Line for Solid-State Batteries

Honda Motor Co., Ltd. HMC has established a demonstration facility in Sakura City, Japan, to advance its efforts in mass-producing solid-state batteries. These batteries are expected to offer longer range and greater durability EVs at reduced costs. Unlike conventional lithium-ion batteries, solid-state batteries replace liquid electrolytes with dry conductive materials. This change promises increased energy density and extended battery life but also requires an entirely new production process.Numerous companies are actively working on solid-state battery technology, including QuantumScape, supported by Volkswagen, Nissan and Factorial, which is developing semi-solid-state batteries compatible with Dodge Chargers.Per Keiji Otsu, president of Honda R&D, these batteries could double EV driving ranges by 2030 and increase them by 2.5 times by the 2040s. Honda is investing ¥43 billion in the pilot line, nearly half of which is funded by Japanese government subsidies. The facility spans 27,000 square meters and is equipped with full-scale machinery across three buildings, each focusing on different stages of production. First for cathode formation and cell assembly, second for anode formation, and the third for electrolyte activation and module assembly. HMC aims to begin production on this line in January 2025 with a continuous inline mixer that is three times faster than traditional batch processing.The company’s ambitious goals include reducing battery size by 50%, weight by 35% and costs by 25% within five years. Honda plans to manufacture more than two million EVs annually by 2030, achieve a 40% global sales ratio for EVs and fuel cell vehicles in the same year, as well as reach 100% electrification by 2040.As Honda accelerates its battery development, it is also strengthening its EV lineup. Its Prologue SUV, built on General Motors' EV platform, is performing well in the United States. The company is also working on a larger SUV for 2025.Zacks Rank & Key PicksHMC currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the auto space are Dorman Products, Inc. DORM, Tesla, Inc. TSLA and BYD Company Limited BYDDY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.66% and 51.98%, respectively. EPS estimates for 2024 and 2025 have improved 75 cents and 88 cents, respectively, in the past 30 days. The Zacks Consensus Estimate for TSLA’s 2024 sales suggests year-over-year growth of 2.97%. EPS estimates for 2024 and 2025 have improved by 22 cents and 18 cents, respectively, in the past 30 days. The Zacks Consensus Estimate for BYDDY’s 2024 sales and earnings suggests year-over-year growth of 25.07% and 31.51%, respectively. EPS estimates for 2024 and 2025 have improved by 35 cents and 39 cents, respectively, in the past 30 days.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Honda Motor Co., Ltd. (HMC): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Dorman Products, Inc. (DORM): Free Stock Analysis Report Byd Co., Ltd. (BYDDY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks