Wednesday, June 03, 2009

Lithium: Mitsubishi Heavy Industries to mass-produce lithium-ion batteries TNR.v, SQM, ROC, BYD, DAI, TTM, NSANY, F, GOOG, AAPL, RIMM, FXI, HUI, XAU,


Here comes our Mass Market dream built in Japan now - our Next big Thing is growing.





M'bishi Heavy to put battery plant online within one year


* Shares up 2.2 pct vs Nikkei's 0.5 pct rise


TOKYO, June 3 (Reuters) - Mitsubishi Heavy Industries Ltd (7011.T), Japan's biggest heavy-machinery company, said on Wednesday it would mass-produce lithium ion batteries for electric vehicles within one year.
Suppliers of next-generation lithium-ion batteries are scrambling to boost output and win contracts from Nissan Motor Co (7201.T) and Renault (RENA.PA), Chrysler LLC and General Motors, which aim to launch their new all-electric cars in the next two years.
Mitsubishi Heavy, which is also expanding capacity in its nuclear power business, said it would build a new battery plant, but did not say where the factory would be constructed.
The news sent its shares up 2.2 percent to 368 yen, outperforming a 0.5 percent rise in the benchmark Nikkei average .N225.
Unlike hybrids such as Toyota Motor Corp's (7203.T) Prius, electric vehicles use a small fuel-powered engine only to recharge the lithium-ion battery pack.
Lithium-ion battery makers for hybrid or all-electric cars include Japan rivals Hitachi Ltd (6501.T), Toshiba Corp (6502.T), GS Yuasa (6674.T) and U.S.-based A123 Systems. (Reporting by Nobuhiro Kubo, writing by Mayumi Negishi)"
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