Bosch, GS Yuasa, and Mitsubishi Corporation to Double Capacity f

Bosch, GS Yuasa, and Mitsubishi Corporation to Double Capacity for Electric
Vehicle Battery 
Partners establish joint venture in Germany to focus on developing
next-generation lithium ion batteries 
Stuttgart / Kyoto / Tokyo, Feb 12, 2014 - (JCN Newswire) -  In November 2013,
Robert Bosch GmbH and the Japanese companies GS Yuasa International Ltd., based
in Kyoto, and Mitsubishi Corporation, based in Tokyo, have set up a joint
venture. Known as Lithium Energy and Power GmbH & Co. KG, the new company
will be headquartered in Stuttgart. It will develop next-generation lithium-ion
battery technology. This next generation is needed in order to make the
electric vehicle a successful mass product in the next decade. 
"In setting up this joint venture, we want to achieve nothing less than a
giant leap forward in the development of battery technology. Our aim is to make
lithium-ion batteries twice as efficient," says Dr. Volkmar Denner, who,
as chairman of the board of management of Robert Bosch GmbH, is responsible for
research and development. 
For electric vehicles, more efficient batteries will mean greater range. For
consumers, the car will also be more affordable, since the rechargeable
batteries can be smaller. Robert Bosch GmbH and its partners are confident that
electromobilty will become a mass market from 2020 onward. Electromobility is
an important step toward making mobility climate-friendly and sustainable. 
Bosch holds a 50 percent stake in Lithium Energy and Power GmbH & Co. KG,
with GS Yuasa International Ltd. and Mitsubishi Corporation each holding 25
percent. The composition of the board of management reflects these
shareholdings. Its members are Dr. Rolf Speicher from Robert Bosch GmbH, Toshio
Ohara from GS Yuasa International Ltd., and Yutaka Kashiwagi from Mitsubishi
Corporation. They will initially head up a team of some 70 associates in
Germany and Japan. 
Bosch will support these joint activities with its entire portfolio of
components for electromobility. With its competence in the area of battery
packs and battery management systems, Bosch specializes in the monitoring and
control of cells and complete systems, as well as in integrating them into
vehicles. In addition, it will contribute its know-how in production processes
and quality management relating to the large-scale series production of complex
GS Yuasa will contribute its many years of experience in manufacturing
lithium-ion battery cells whose high density makes for a longer range, as well
as its expertise in materials systems and electrochemistry. As an established
manufacturer of automotive and non-automotive lithium-ion battery cells, GS
Yuasa has a strong engineering team and modern production lines with a high
level of automation. 
Mitsubishi Corporation will contribute its global sales network and experience
as an integrated global business enterprise. In addition, Mitsubishi will use
its strengths in the establishment of global value-added chains - which include
raw materials, semi-finished products, and marketing - to take the joint
venture forward. 
About Mitsubishi Corporation 
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit 
Mitsubishi Corporation
Telephone: +81-3-3210-2171
Facsimile: +81-3-5252-7705 
Copyright 2014 JCN Newswire. All rights reserved. 
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