The most significant and innovative automotive joint-ventures of 2022 so far

Automakers are ramping up their joint-ventures, especially in 2022. Automakers are partnering with domestic and foreign suppliers of EV battery components to lower the cost of EV materials and increase production. Many vehicle makers have had to stop production or slow it down because of a lack of EV parts, like battery components and vehicle chips. During the second quarter, EV sales hit a new record high (up 13% from Q1), but they are still not high quite enough to replace gas-powered vehicles anytime soon.

Listed below are five of the best automaker joint-ventures in 2022.

Sony and Honda create a joint EV company 

Sony and Honda joined forces this year to complete a joint EV company to compete with other giant names like Tesla. The new company is called Sony Honda Mobility Inc, and reportedly Sony has top billing. Honda will focus on its car-building power while using Sony’s advanced technology. Unlike other companies, Sony and Honda are not focusing on creating electric vehicles on their own. Sony’s CFO stated, “We will not start making batteries or vehicles ourselves.”

Stellantis and Samsung SDI 

Stellantis is a crucial player in the automaker scene and has partnered with Samsung SDI by investing over $2.5 billion to rapidly increase the production of lithium-ion EV batteries. The joint-venture is part of Stellantis’s “Dare Forward 2030” strategic plan. The facility will start by producing EVs with a capacity of 23-gigawatt hours but aims to increase the gigawatts to 33 per hour. This joint-venture is also expected to create 1,400 more jobs in Kokomo and the surrounding areas.

Ford and SK Innovation 

Ford EV and SK Innovation officially announced their partnership in 2021 but went silent soon after. In 2022, the joint-venture came back with a more detailed update, including their plans. Ford EV plans to invest billions in its new BlueOval City facility and BlueOvalSK Battery, which has now been finalized.  

Both companies fairly own an equal stake in the venture. In the beginning, the BlueOval City facility will produce EV batteries with a capacity of 129-gigawatt hours. Soon, they will increase the gigawatt hours as Ford requires 140-gigawatt hours for future EVs.

Volkswagen and Siemens 

One of the strongest joint-ventures in 2022, is the Volkswagen and Siemens partnership. These two companies are banding together to invest large amounts of money into electrifying North America. There is a $450 million equity investment that boosts electrification in the United States and Canada. The companies’ joint-venture is using the investments to create battery chargers that are more sophisticated, readily available, and compatible across electric vehicle types.

GM and Posco Chem 

General Motors is planning to launch 30 new EV models in the world by 2030 but needs a lot of raw materials and EV parts, which is where Posco Chem comes into the picture. GM is partnering with Posco Chem to intensify the production of EV batteries. The new factory will process cathode active materials for the company’s Ultium batteries. The new factory will open hundreds of jobs, but not many details are out about the logistics, but the factory locations are Lordstown, Ohio, and Spring Hill, Tennessee.