Business – NEC, Nissan To Invest $1.1B On Lithium Ion Battery Venture

Chris Oliver

HONG KONG — Nissan Motor Co. and NEC Corp. will jointly invest about 100 billion yen ($1.1 billion) to bolster production of large-capacity lithium ion batteries for use in automobiles, according to a report in the Monday morning edition of the Nikkei newspaper. Production at a plant in Kanagawa Prefecture, with annual output for about 13,000 vehicles, is expected to be underway this spring, the report said, without citing its source. The firms are also considering factories in the U.S. and Europe to supply local automakers.