FOR RELEASE ON 19 DECEMBER 2007
MITSUBISHI’S ZERO-EMISSION i-MiEV ONE STEP CLOSER WITH NEW
LITHIUM-ION JOINT VENTURE
Mitsubishi Corporation and Mitsubishi Motors Corporation have created a joint venture with GS Yuasa Corporation to accelerate the development and production of lithium-ion batteries.
Lithium-ion production is the only restricting factor in the final development of the i-MiEV[1] and other Mitsubishi zero-emission electric vehicles, which Mitsubishi are currently looking to sell in the UK in 2009. The creation of a new joint venture – “Lithium Energy Japan” – stands as one of the biggest landmarks in the development of the new breed of electric cars.
Jim Tyrrell from Mitsubishi Motors UK commented, “The development and production of next-generation fuel sources is essential for the car industry as a whole and for Mitsubishi to lead the way exemplifies our commitment to new green technology.”
Lithium-ion battery development has proven it can take green cars to the next level of practicability and refinement in the new i-MiEV recently seen in the UK. Just as mobile phones were propelled into a new era with slim, high-capacity, quick-charging lithium batteries the same is set to be true for Mitsubishi’s motor industry plans.
GS Yuasa Corporation, Mitsubishi Corporation and Mitsubishi Motors Corporation began collaborating in May 2007. However, "Lithium Energy Japan" was established on 12th December 2007[2] . The intent is to apply their comprehensive strengths in vertical value chains, covering natural resources, materials, development, manufacturing, sales, and the identification of new applications, and take advantage of their powerful synergy to advance the business.
ENDS
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Note:
All Mitsubishi press releases and pictures can be found on Newspress www.newspress.co.uk and the official UK media website www.mitsubishipress.co.uk
[2]Overview of Lithium Energy Japan: Capital Investment: 500 million yen at establishment; to reach 4 billion yen through increased investment in April, 2008 (planned); Investors: GS Yuasa Power Supply Ltd (wholly-owned subsidiary of GS Yuasa Corporation) 51%, MC 34%, MMC 15%; Business: Development, Manufacturing & Sales of Large Lithium-ion batteries; Production Scale: 200,000 units / fiscal year 2009.
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