Makers of lithium-ion batteries in Japan are attempting to increase research and development and boost their position, as South Korean rivals threaten to steal their share of the market.
According to a report in Japanese business daily The Nikkei, Japanese carmakers have been leaders in the field of lithium-ion batteries for vehicles since the 1990s and are now hoping to capitalise on the expected explosion of growth in the market. In fact, the market is expected to be 54 times bigger in 2020 than it was in 2010 with global sales of lithium-ion batteries for hybrid and electric vehicles expected to reach 38billion dollars.
However, the likes of Toshiba, Hitachi and others, are feeling pressure from South Korean manufacturers that are trying to grab a larger chunk of the market by undercutting their Japanese rivals.
The Nikkei even suggests that one Japanese manufacturer was “shocked” by the prices offered by a South Korean supplier that was around one third of similar Japanese products.
