Auto battery joint venture announced

Nissan, NEC and NEC Tokin have signed an agreement to establish a joint venture company called Automotive Energy Supply Corporation (AESC) to focus on lithium-ion batteries for automotive applications. Nissan and NEC will invest more than $4million in the partnership, which is expected to begin operations by the end of April.

The new company will focus on the development and marketing of advanced lithium ion batteries to power future generations of electric powered vehicles. NEC and NEC TOKIN bring expertise in cell technology and battery manufacturing, whilst Nissan will focus on the cell stack for real world application in electric powered vehicles. Carlos Tavares, executive vice president of Nissan, said: “Together, Nissan and NEC’s engineers have addressed the key challenges of cost, performance, safety and reliability. We believe that we have a breakthrough technology in the lithium-ion battery product we will produce.”