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JAPAN CO NEC TO HIKE OUTPUT CAPACITY OF LITHIUM BATTERY ELECTRODES

Posted on: Sun, 08 Nov 2009 23:46:00 EST

Symbols: JPCLF, NIPNY

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TOKYO, Nov 09, 2009 (AsiaPulse via COMTEX) --
NIPNY | Quote | Chart | News | PowerRating -- 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

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