Jan. 21, 2021—Honda Motor Co. earlier this week signed joint development agreement to develop lithium-metal batteries with SES Holdings.

According to a report from Reuters, SES Holdings is a Boston-based EV battery company. Per the report, Honda plans to buy about 2 percent of the company.

Lithium-metal batteries are a fairly new advancement in the world of batteries and are expected to "achieve higher energy density than lithium-ion batteries," which are standard in most electric vehicles. 

Honda is the latest OEM to start venturing into self-produced EV batteries—companies such as General Motors and Nissan have invested significant capital into domestic battery infrastructure.