Nissan, NEC To Invest $115 Million in Battery Plant
Published May 19, 2008
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TOKYO — Nissan and Japanese electronics giant NEC said they will invest $115 million over the next three years to make advanced lithium-ion batteries for Nissan's future electric vehicles.
The automaker earlier this month announced a new initiative that will focus primarily on pure EVs as it plays catch-up to rivals Toyota and Honda, the leaders in hybrid-vehicle technology.
At the 2008 New York Auto Show in March, Nissan displayed the Denki Cube, a battery-powered version of the boxy home-market compact, to help illustrate its future emphasis on EVs.
Last year, Nissan and NEC announced the formation of a joint venture, Automotive Energy Supply Corporation, to develop and produce lithium-ion batteries. Monday's announcement was the first indication of a major investment in the project, which aims to begin manufacturing batteries next year for the initial wave of Nissan EVs that are expected to come to market in 2010.
The partners will ramp up slowly, with initial production of 13,000 batteries a year increasing to 65,000 a year by 2011. The first batteries will go into forklift trucks.
Nissan said it intends to begin selling EVs in the U.S. and Japan in 2010, with plans to go global by 2012 in partnership with French parent Renault. Nissan also continues development work on hybrid vehicles, but has indicated it intends to focus mainly on pure EVs.
Toyota and Honda are working on lithium-ion batteries in separate ventures, as is Mitsubishi Motors.
What this means to you: Will Nissan be able to trim Toyota's lead in green-car technology? — Paul Lienert, Correspondent
The automaker earlier this month announced a new initiative that will focus primarily on pure EVs as it plays catch-up to rivals Toyota and Honda, the leaders in hybrid-vehicle technology.
At the 2008 New York Auto Show in March, Nissan displayed the Denki Cube, a battery-powered version of the boxy home-market compact, to help illustrate its future emphasis on EVs.
Last year, Nissan and NEC announced the formation of a joint venture, Automotive Energy Supply Corporation, to develop and produce lithium-ion batteries. Monday's announcement was the first indication of a major investment in the project, which aims to begin manufacturing batteries next year for the initial wave of Nissan EVs that are expected to come to market in 2010.
The partners will ramp up slowly, with initial production of 13,000 batteries a year increasing to 65,000 a year by 2011. The first batteries will go into forklift trucks.
Nissan said it intends to begin selling EVs in the U.S. and Japan in 2010, with plans to go global by 2012 in partnership with French parent Renault. Nissan also continues development work on hybrid vehicles, but has indicated it intends to focus mainly on pure EVs.
Toyota and Honda are working on lithium-ion batteries in separate ventures, as is Mitsubishi Motors.
What this means to you: Will Nissan be able to trim Toyota's lead in green-car technology? — Paul Lienert, Correspondent