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 (EV). The three partners aim to complete the details and set up the new company sometime within a half a year.
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, 3 billion yen 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 slated to commence by 2009. Read more...
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