SANYO Electric Company Ltd is launching a new Energy & Ecology Business in Europe, with an investment of 150 million euros by 2006. The company expects the European market for environmentally-friendly products to grow dramatically, driven by support for `Feed-In Tariffs' also known as the `buy-back programme'.
SANYO says its Energy & Ecology products are based on the company's advanced proprietary technology and are intended to lessen the burden on the environment, with the concept of `harmony' at their core. The products include rechargeable batteries, solar energy systems, air conditioning equipment, fuel cells, water processing systems, and heat pump water heaters.
The company is also expanding its production facility near Budapest – which is already Europe's largest lithium-ion rechargeable battery production factory employing over 1500 people. An immediate investment of over 20 million euros will expand it by a further 10,000 m2, and the facility will become one of Europe's largest photovoltaic module and air conditioning production facilities. The factory will be in full-scale operation by October 2005 rising to a production capacity of 120,000 units a year by September 2006.
Mr Hiromoto Sekino, Senior Officer & Director of the Board of SANYO Electric Co. Ltd and COO of International Business Group said: "43% of our R&D expenditure is invested in Energy & Ecology products, and we anticipate this business will deliver 32% of our sales. We plan to achieve European sales of 3.7 billion euros by 2010."
SANYO aims to improve all round business efficiency from production to distribution, and with the improved facility in Hungary, it will actively drive `Energy & Ecology' business initially in Europe and ultimately globally.
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