Toyota Building Nickel-Metal Hydride and Lithium-Ion Battery Plants for Electric and Hybrid Cars

What will $192 million buy? A nickel-metal hydride battery plant in Shizuoka prefecture, central Japan. Toyota is teaming up with Matsushita Electric Industrial Co, makers of Panasonic, to build a plant to produce the batteries currently used in the Prius. Rumors are also circulating in the Nikkei, Japan's top business daily, that Toyota is also building a lithium-ion battery plant for future electric cars. Lithium-ion batteries are smaller and more powerful than nickel-metal hydrides, and they may be used in the plug-in Prius expected in 2010. Nissan, who plans to release an affordable electric vehicle in 2010, will be using lithium-ion batteries. Via: AP News

Read More in: Business | Electric Cars

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Posted by Jennifer Lance at June 5, 2008 6:58 AM