The Japanese battery maker recently formed a department for the project, bringing in engineers from its hybrid and plug-in hybrid operations. The team aims to develop lithium-ion cells with the energy density and durability needed for EVs, and also serve as a point of contact with automakers and other customers.
“We’ll mark a full start on EV batteries under our new medium-term plan starting in fiscal 2023,” Murao said recently.
GS Yuasa makes batteries for standard and plug-in hybrids through Lithium Energy Japan, a joint venture with partners including trading house Mitsubishi Corp, and Blue Energy, a venture with Honda Motor.
The manufacturer also plans to work with partners on EV batteries, to split the cost of new production facilities.
Automotive lead-acid batteries are GS Yuasa’s mainstay product, for which it holds the largest share of the Japanese market by far, covering roughly 70% of new vehicles. The company also has made over 1.4 million lithium-ion batteries for hybrids since 2009.
Research firm Fuji Keizai expects the market for lithium-ion batteries for electric vehicles to double between 2020 and 2025 to roughly ¥9.4 trillion (US$63.5 billion).
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