Sanyo, VW to develop lithium-ion batteries

Associated Press
Sanyo and Germany’s Volkswagen AG will develop lithium-ion batteries for hybrid vehicles as global automakers race to develop more environmentally friendly technology, Associated Press reports. 

Japanese electronics maker Sanyo Electric Co. said Wednesday it will invest 80 billion yen ($769 million) to expand production by 2015 of such batteries, with plans to start mass producing them in a Japanese plant by next year, making 15,000 to 20,000 batteries a year.  The deal with Volkswagen, announced Wednesday, follows a 2006 agreement between Sanyo and Volkswagen agreed to work together in nickel metal hydride batteries, now used in most gas-electric hybrids like Toyota’s Prius.  Sanyo already provides nickel metal hydride batteries for Ford Motor Co. and Honda Motor Co