Having already outlined its plans to become a key player in the lithium-ion battery market, the Nikkei now reports that Sanyo Electric will launch mass production of the batteries for plug-in hybrids and electric vehicles by fiscal 2012.
The company is pouring $2.126billion into rechargeable batteries and solar cells over the next three years which will include boosting its production facilities and developing higher capacity lithium-ion batteries for both cellular phones and personal computers.
Eventually, Sanyo hopes to garner 40 per cent of the global market for green car rechargeable batteries and aims to expand solution businesses that provide clean energy systems including solar cells, rechargeable batteries and other green technologies.
