Panasonic to build new lithium-ion battery plant in China-source by www.batteryfast.com

FOR IMMEDIATE RELEASE
Bayville, New Jersey, United States of America (Free-Press-Release.com) April 24, 2011 -- Panasonic to build new China plant by 2012/13-source

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Japanese electronics maker Panasonic Corp plans to build a new lithium-ion battery plant in China in the financial year starting in April 2012 to boost its cost competitiveness, a source familiar with the matter told Reuters on Saturday.

Panasonic plans to raise the ratio of Chinese output of its lithium-ion batteries used in such products as PCs and cellphones to 50 percent by the year starting April 2015, said the source.

It currently makes 80-90 percent of such lithium-ion batteries in Japan.

Japanese makers led by Panasonic are battling South Korean makers such as LG Chem and Samsung SDI to win the biggest share of the market for lithium-ion batteries for consumer electronics products as well as for hybrid and electric cars.

Panasonic will build the new plant next to an existing Suzhou plant operated by Sanyo Electric, a Panasonic unit, and plans to boost lithium-ion battery output capacity at another Sanyo plant in Beijing by possibly transferring production equipment from Sanyo's domestic plants, the source said.

Panasonic could not be reached for comment.

The Nikkei business daily reported earlier on Saturday that Panasonic plans to invest 20 billion-30 billion yen ($244 million-$366 million) by the end of 2012 to build a new plant in China and to upgrade facilities.

It aims to triple sales of lithium-ion batteries, including those for cars, to 1 trillion yen by the year from April 2015, compared with levels in the 2009/10 business year, the Nikkei said.

Panasonic and its wholly owned subsidiary Sanyo have a combined share of about 26 percent of the global market for lithium ion cells, according to research firm Techno Systems Research.

Read More: http://www.batteryfast.co.uk/battery-technology/battery-technology-batteries-for-transportation-aerospace-by-www-batteryfast-co-uk/

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