and NEC are teaming up for a new joint venture to develop and produce lithium ion battery packs for
. The new venture will start mass producing batteries in 2009 which should be just in time for Nissan's previously announced in-house developed hybrid system. Automotive Energy Supply Corporation (AESC) will focus on automotive battery systems and along with Nissan they will seek contracts to supply other automakers as well. Currently Nissan's first hybrid, the new
, uses technology licensed from
and a nickel metal hydride battery supplied by Panasonic
Energy which is a JV between Toyota and Matsushita.
Editor's note: CNET says this is bad news for Tesla, Phoenix, etc.