Today, June 20th, German company Robert Bosch announced it has signed a deal with Japan’s GS Yuasa International and Mitsubishi to jointly develop next-generation lithium-ion batteries.
The three companies will set up a joint venture for the research and development of next-generation lithium-ion batteries, but which will also to provide marketing and sales support for the three parent companies. The batteries are to be used for electric cars and plug-in hybrid vehicles to increase the range from the current 180-240 km to around 400 km.
The joint venture is expected to begin operations in 2014, having its headquarters in Bosch’s hometown of Stuttgart, while production is to start in 2018.
“These batteries are fundamental for future forms of mobility, such as plug-in hybrid or all-electric vehicles,” the three companies said in a joint statement.
Bosch will own 50% of the joint venture, while GS Yuasa and Mitsubishi each holding 25%. This is Bosch’s second attempt to create a lithium-ion battery joint venture with an Asian company and in September South Korean battery maker Samsung said it was willing to pay $95 million to purchase Bosch’a 50% stake in SB Limotive, putting an end to the JV created in 2008.