The world’s largest rechargeable battery maker, Sanyo Electric Co Ltd (6764.T) announced last week that it is in talks with carmakers in Japan, Europe and the U.S. to supply batteries for electric and plug-in vehicles.
Sanyo Electric Senior Vice President Masato Ito told Reuters his company is talking with "more than five or six car makers," about the co-development and supply of auto-use batteries.
Sanyo and Volkwagen AG (VOW1.DE) already have a joint development agreement in place for auto-use lithium-ion batteries.
The competition to provide batteries is heating up, as most major car companies have new electric or plug-in hybrid vehicles in development that are expected to use lithium-ion batteries, as opposed to nickel-metal hydride batteries currently used in hybrid vehicles like the Toyota Prius.
Sanyo also said it will boost its output of non-auto lithium-ion batteries to more than 100 million cells a month during the financial year starting in April 2010. The company intends to keep production levels above those of competitors Sony (NYSE: SNE) and Matsushita (NYSE: MC).
Earlier this month, Sanyo announced that it would raise its solar cell output to 4 gigawatts a year by 2020.
A123 Systems Inc, a Massachusetts based developer of lithium-ion batteries for auto use, announced plans for an initial public offering two weeks ago.
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