Sanyo will spend over $3 billion US on new battery tech in next three years

Sanyo knows a thing or two about making batteries for vehicles. The company's batteries are in the 2008 Ford Escape hybrid and the Honda Accord hybrid, for example. The Asia Pulse reports this week that the company announced that it will spend over three billion dollars over the next three years on new rechargeable battery technology (as well as solar cells and other electronic parts). The money the company will spend in the next three years is 40 percent more than similar investments in the preceding three years.
The billions will be spent on 1,000 engineers and to reach Sanyo's goal of mass producing "lithium ion batteries for hybrid vehicles by fiscal 2009 or fiscal 2010," the Asia Pulse writes (sorry, the article is behind a Lexis-Nexis wall and can't be linked to).

[Source: Asia Pulse]

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