Nissan to ramp up Renault battery supply
Japan - Nissan Motor has set aside 50 billion yen (US$554 million) to boost battery production for electric vehicles produced by French partner Renault.
Nissan said it plans to invest up to 20 billion yen to upgrade its lithium ion battery plant in Tokyo, aimed at supplying 35,000 batteries to Renault in time for the car maker's launch of electric vehicles in 2011.
The Tokyo plant is owned by Automotive Energy Supply Corp, Nissan's joint venture with the NEC group.
Nissan also plans to pump some 30 billion yen into a jointly built plant with Renault in France to supply lithium ion batteries for Renault's electric cars. The French manufacturing facility is expected to be completed by 2012, and will supply batteries for around 60,000 cars, local media reported.
Nissan's CEO Carlos Ghosn said last month the company plans to make rechargeable batteries for electric cars on of its key businesses as it taps on a growing demand for zero-emissions vehicles.
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