Honda, Mitsubishi to set up EV battery-focused businesses: Japanese carmaker Honda and trading company Mitsubishi Corporation have signed an MoU to explore setting up new businesses focusing on optimizing the use of EV batteries, a joint statement read on Thursday. Under the MoU, the two companies will explore setting up a business to monitor the usage of batteries installed in Honda mini-EV models that are set to begin sales in Japan next year. It said the new business would “manage and maximize the value of each battery throughout its lifetime shifting from powering EVs to use as stationary energy storage,” according to the statement. A second business would help EV users optimize electricity costs by providing access to smart-charging, the statement said.

Japan launched its first carbon-credit exchange as it aims to become carbon neutral by 2050, Bloomberg reported on Wednesday. The new exchange allows participants to trade the local J-Credits in six categories, including renewable energy and agriculture. The renewable energy category was the most active J-Credit on the first day of trading, with c. 3k tons of emissions traded in the afternoon session at JPY 3.06k (c. USD 20.58) per ton, according to the exchange. “Through carbon credit trading, carbon emissions reduction can be priced, thereby improving the predictability of decarbonization investment and encouraging companies to implement them,” Japanese Trade Minister Yasutoshi Nishimura said.

REMEMBER- Other Asian countries want to get rolling on pricing pollution: Last month, Indonesia kicked off its first voluntary carbon credits market as part of state plans to become carbon-neutral by 2060 and become a major global carbon allowances trading hub.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• EU supports Italy’s green fuels targets with fresh funding: The EU Commission has signed off on EUR 100 mn in financing — to be provided as direct grants — to support Italy’s green hydrogen generation targets under the EU’s Temporary Crisis and Transition Framework state-aid project. The financing aims to boost electrolyzer production in Italy as hydrogen demand in the country is set to reach 26.6 TWh by 2030 and 85.4 TWh by 2050. (Statement)
• World’s first electric + autonomous passenger aircraft certified in China: China-based Ehang has received the world’s first industry certificate to fly a two-passenger autonomous electrical vertical take-off and landing (eVTOL) aircraft, issued by the Civil Aviation Administration of China. The company — which is working on setting up a manufacturing eVTOL facility in the UAE — hopes this step will help it secure similar certificates for commercial operation in the US, Europe, and Southeast Asia. (CNBC)