GS Yuasa, Mitsubishi Corporation (MC), and Mitsubishi Motors Corporation (MMC) are forming a joint venture company to manufacture high-capacity high-performance Lithium-ion batteries that can be used in electric vehicles (EV).
GS Yuasa is expected to own a 51 percent share of the new company, with MC and MMC owing 34 percent and 15 percent, 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 plant, which will be capable of manufacturing 200,000 battery cells per 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).
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 will also be supplied to EVs manufactured by other auto-makers.
Operations are slated to commence by 2009.