Toshiba Corporation (6502T) announced that it is working with Mitsubishi Motors Corporation (7211.T) to develop lithium-ion battery modules for electric vehicles.
Toshiba sees its SCiB™ batteries as a large growth area for the company, and it has already secured a deal to supply the batteries for electric motorcylces being made by Honda (NYSE: HMC).
Toshiba says it has developed a new original anode material and a new electrolyte that enhances both safety and rapid recharging of lithium-ion batteries.
However the company has strong competition in Japan and abroad from companies like Panasonic (NYSE: PC), which is working with Toyota (NYSE: TM); NEC Corp (NIPNF.PK), which has partnered with Nissan (NSANF.PK); Hitachi (NYSE: HIT) and LG Chem (LGCLF.PK), both of which are supplying General Motors.
According to a Reuters report, Mitsubishi also has an arrangement with battery maker GS Yuasa Corp (GYUAF.PK), and Mitsubishi said Toshiba has not yet won a supply contract.
However, the Nikkei business daily reported that Mitsubishi will purchase Toshiba batteries for its new small electric cars to be launched by 2012.
Toshiba will produce SCiB™ for industrial applications, including EV and power storage, at Kashiwazaki Operations, a new facility in Niigata prefecture that is slated to start production in 2011.
Last month Toshiba announced that it won a contract to supply drive motors for hybrid and electric vehicles in development by Ford (NYSE: F).
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