Honda Motor Co has formed a partnership with trading company Hanwa Co to ensure a stable supply of metals used in batteries for electrified vehicles, the Japanese automaker said on Tuesday.

As Reuters reports, the Telegraph reports, Honda will be able to obtain essential metals such as nickel, cobalt and lithium through the partnership in the medium to long term, a statement said.

Procuring these elements will be among the many challenges for automakers around the world, as stricter environmental regulations accelerate the production and sales of cleaner, electrified cars.

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Honda said it chose Hanwa for its strength in sourcing.

This year Honda set a target to launch 30 electrified vehicle (EV) models globally and produce more than 2 million EVs annually by 2030. The company aims to sell only fully electric vehicles and electric vehicles with fuel cells until 2040.

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