New Japanese Company Formed to Manufacture Lithium-Ion Batteries

GS Yuasa Corporation, Mitsubishi Corporation (MC), and Mitsubishi Motors Corporation (MMC) have begun collaboration on establishing a joint venture 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 half a year.

The batteries that will be produced by the new company are based on the "LIM series" of Large Lithium-ion batteries manufactured by GS Yuasa (currently the only mass producer of Large Lithium-ion batteries in Japan) with improved cell-structure and electrode materials to improve the energy density and power density of the new batteries. These batteries will have ten times the capacity of those for hybrid electric vehicles, and are the perfect choice for EVs. MMC plans to install the batteries to its next generation EV "i MiEV" (i Mitsubishi innovative Electric Vehicle), which it aims to introduce to the market by 2010. The batteries can also be supplied to EVs manufactured by other auto-makers and to industrial applications for energy storage use.

The new batteries are capable of high-speed energy input and output to meet the needs of high-speed charge specifications under consideration by electrical power companies and potentially for plug-in hybrid electric vehicles (PHEV). They hope that their product will become the de facto standard for large lithium-ion batteries; the new company plans on increasing their production capacity and line-up of products in response to the expanding market.

GS Yuasa possesses advanced technologies for large lithium-ion batteries and is planning on widening their applications; MC intends to enter the battery manufacturing business and create other related businesses; and MMC is working to increase the use of electric vehicles.

GS Yuasa is expected to own a 51% share of the new company, with MC and MMC owing 34% and 15% respectively. During the first stage of development, 3 billion yen (US$3.3 million) will be invested to install automated mass production lines within a 7000m² facility at GS Yuasa's Kyoto's head office plant, capable of manufacturing 200,000 cells per year. Operations are slated to commence by 2009.