Mitsubishi joins large lithium battery JV

GS Yuasa Corporation, Mitsubishi Corporation and Mitsubishi Motors Corporation have begun collaboration on establishing a joint venture company to manufacture large capacity and high performance lithium-ion batteries that can be used in electric vehicles.

The three partners aim to complete the details and set up the new company sometime within the next six months.

GS Yuasa is expected to own a 51% share of the new company, with MC and MMC owning 34% and 15% respectively. The new company's headquarters will be located within GS Yuasa's Kyoto head office.

During the first stage of development, JPY3bn will be invested to install automated mass production lines within GS Yuasa's Kyoto head office plant, capable of manufacturing 200,000 cells per year. Operations are expected to commence by 2009.

The three partners said application of large lithium-ion batteries is expected to increase dramatically across a wide variety of industries, including automobiles. Construction of systems that can quickly meet these market needs has become a vital issue.

GS Yuasa possesses advanced technologies in large lithium-ion batteries and is striving to broaden their applications. Meanwhile, MC intends to enter the battery manufacturing business and aims to create other related businesses as well. MMC is working to increase the use of the 'cleanest' possible vehicles.

The three companies decided that by combining their unique strengths, they could exhibit optimum synergy through the establishment of this new company.

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