NEC Corp. and Fuji Heavy Industries Ltd. said Tuesday they will establish a joint venture later this month to develop a high-performance rechargeable battery for hybrid vehicles.
NEC Lamilion Energy Ltd., to be capitalized at 490 million yen, will develop a manganese lithium ion-type rechargeable battery, they said.
Manganese lithium ion-type batteries have a higher density and are lower in volume than rechargeable nickel metal hydride batteries, which are currently used by commercial hybrid vehicles, the two firms said, adding their battery also weighs less and generates less heat.