Volkswagen paired up with Sanyo Electric Co. in a joint venture to produce lithium-ion batteries through 2015.
Sanyo will spend $767 million on the production of the new batteries. Cost include a new factory. They hope to have mass production begin in 2009. As of right now, the location for the factory is undecided.
Volkswaqen will produce a new hybrid vehicle, an Audi AG, by 2010 which will utilize the new battery type.
Sanyo estimates a worldwide demand for lithium-ion batteries of 4 to 4.5 million units in 2015. Sanyo hopes to capture 40 percent of that market. The new factory will allow Sanyo to produce lithium-ion batteries for 1.7 to 1.8 million hybrid cars a year with a production value of 10 million cells a month.
Thursday, May 29, 2008
Volkswagen and Sanyo to Produce Lithium-Ion Batteries
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