CATL and Honda Motor (China) Investment Co., Ltd. ("Honda Motor") recently formed a new cooperation under which the Japanese automaker plans to procure a total of 123GWh power batteries for battery electric vehicles (BEVs) from the Chinese battery giant between 2024 and 2030, the two companies announced.

The batteries involved in the new deal will be manufactured at CATL's factory in Yichun city, Jiangxi province.

The new transaction indicates a stronger partnership the two parties resolve to build since they reach an all-around strategic collaboration in 2020 regarding new energy vehicle (NEV) battery business. Under the agreement inked a few years earlier, the duo would team up on such fields as the development, supply, and recycling of power batteries.

Honda Motor said the latest purchase deal will help the company build a long-term stable power battery supply-demand mechanism, and support the two companies in maintaining leaderships amid global transportation industry's transition towards electrification.

The Japanese carmaker plans to introduce a total of 10 BEV models under the e:N series by 2027 intoChina.

At the 5th CIIE (China International Import Expo) held last month, Honda Motor revealed the e:N2 Concept electric car, which is the concept model for the second set of e:N Series models that will be exclusively sold in China through Dongfeng Honda and GAC Honda.