Toyota Venture in China to Make Batteries for Hybrids

Posted: May 31, 2013 at 11:25 amToyota Motor Corp. and China’s Hunan Corun New Energy Co. plan to open a factory in Changshu and begin making nickel-metal hydride batteries for hybrid vehicle in about two years, The Nikkei reports.The Chinese plant will be operated by Corun PEVE (China) Automotive Battery Co., a joint venture to be capitalized at $52 million, according to the Tokyo-based newspaper.The new company will be 41% owned by Primearth EV Energy Co. (Toyota’s partnership with Panasonic Corp.) and 40% by Hunan Corun.

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Posted: May 31, 2013 at 11:25 am

Toyota Motor Corp. and China’s Hunan Corun New Energy Co. plan to open a factory in Changshu and begin making nickel-metal hydride batteries for hybrid vehicle in about two years, The Nikkei reports.

The Chinese plant will be operated by Corun PEVE (China) Automotive Battery Co., a joint venture to be capitalized at $52 million, according to the Tokyo-based newspaper.

The new company will be 41% owned by Primearth EV Energy Co. (Toyota’s partnership with Panasonic Corp.) and 40% by Hunan Corun. Two Toyota affiliates will contribute a combined 9% to the venture.

The Nikkei did not indicate production targets or say which vehicles would use the factory’s output.