Suzuki to buy Kanadevia's all-solid-state battery business for EVs

Suzuki Motor Corp. said Wednesday it will acquire Kanadevia Corp.'s all-solid-state battery business on July 1 as the carmaker looks to strengthen development of next-generation batteries for electric vehicles.

Suzuki will enter the competitive arena to develop all-solid-state batteries, which are considered safer than liquid-based batteries and can shorten charging time and provide greater power output in EVs.

The automaker did not disclose the purchase price. Kanadevia said it will book an extraordinary profit of 7.4 billion yen ($47 million) from the business sale in the year through March 2027.

Kanadevia, formerly called Hitachi Zosen Corp., has worked on all-solid-state batteries since 2006 and has won orders for use in semiconductor manufacturing equipment.

"Kanadevia's all-solid-state lithium-ion batteries offer high safety...excellent environmental resistance, and operation across a wide temperature range," Suzuki said in a release.

Among other automakers, Toyota Motor Corp. said last year it will jointly develop cathode materials for all-solid-state batteries with Sumitomo Metal Mining Co.

Volkswagen AG, Honda Motor Co. and Nissan Motor Co. are also rushing to develop and mass-produce all-solid-state batteries.

==Kyodo

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