Nissan And NEC Jump Start Battery Project

Japanese partners Nissan Motor and NEC Corp plan to bring forward their plans to produce lithium-ion batteries for hybrid and electric vehicles and have pledged investment of at least US$1bn, according to reports in the Nikkei business daily. This compares to the original announcement in May that the partners would invest a total of JPY12bn (US$115mn) over three years. The plant is expected to have an initial annual production capacity of 13,000 units from 2009, rising to 65,000 units by 2011, when Nissan's electric car will be in full production.

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