Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Asahi Kasei Corporation, a chemical company based in Japan, announced it will build a new production plant in Canada where it will make parts for electric vehicle batteries. The company will then supply critical materials to Honda Motor’s EV factory, which will also be constructed in the country.
According to Nikkei Asia, Asahi Kasei will spend around $1.3 billion or 200 billion yen to construct its new battery component facility in the country. The Japanese firm reportedly aims to commence production at the plant in 2027.
Main Items to Be Produced at the Canadian Plant
The new facility will mostly make lithium-ion battery separators, an essential component in EV batteries. At any rate, it was noted that while the plant in Canada is being built, the company is already expanding its production capacity for the separators by establishing more facilities where the battery component is coated.
Asahi Kasei will invest about 40 billion yen more to double its production capacity by installing coating equipment at three other existing factories in South Korea, Japan, and the United States. These plants are expected to start operations between April and September 2026.
Partnership with Honda Motor and Other Japanese Manufacturers
Reuters reported that Asahi Kasei is mainly building the EV battery materials plant in Canada to supply its products to Honda Motor’s EV production factory in the region. However, aside from the said automaker, Asahi Kasei is also expected to supply the same battery materials to other Japanese companies, such as Panasonic Holdings, which is currently expanding its manufacturing base in the North American territory.
At one point, Asahi Kasei had the largest global share in the separator market. However, due to stiff competition with Chinese firms, its ranking slid to sixth place in 2022.
Photo by: Asahi Kasei Website
