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JAPAN CO NEC TO HIKE OUTPUT CAPACITY OF LITHIUM BATTERY ELECTRODES

TOKYO, Nov 09, 2009 (AsiaPulse via COMTEX) --

Companies: Japan Co Ltd (JPCLF), NEC Corp. (NIPNY)

Japan firms NEC Corp. (TSE:6701) and NEC Tokin Corp. have decided to upgrade their production plan for lithium ion battery electrodes in a bet that demand will climb for use in hybrid and electric vehicles.

The firms original blueprint called for a 13.7 billion yen (US$152.4 million) investment by the end of the year through March 31, 2011, with manufacturing to begin at a factory in Sagamihara, Kanagawa Prefecture, next spring.

By spending an additional 10 billion yen, they now aim to lift the operation's annual output capacity by 50 per cent to enough lithium ion battery electrodes for 100,000 cars, up from an initial plan for 65,000 cars. The two firms are now conducting test production at the Sagamihara factory.

All output will be sold to Automotive Energy Supply Corp., a joint venture between Nissan Motor Co. (TSE:7201) and the NEC group. This joint venture aims to manufacture enough lithium ion batteries for 100,000 cars in the year ending March 31, 2011.

(Nikkei) rw

Copyright (C) 2009 Asia Pulse. All rights reserved

News Provided by COMTEX

Companies: Japan Co Ltd (JPCLF), NEC Corp. (NIPNY)


Related terms: automotive, energy, investment, japan, joint venture, manufacturer, manufacturing, nikkei, yen

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