After supplying batteries for the record-breaking Mira EV (pictured), Sanyo had little choice but to follow it up with something big. So that's just what they did. This time around, the project is more about future plans than 300-plus mile journeys, but the goal is still quite monumental. Sanyo will invest $2.1 billion to ramp up li-ion production for hybrid and electric vehicles in anticipation of reaching mass production levels by 2012.

The Nikkei newspaper is reporting that most of the funding will go towards increasing production capacity at a company facility in Hyogo Prefecture. Sanyo will begin producing li-ion batteries for at least two automakers (undisclosed) near the end of 2011. After that, the company is aiming very high with hopes of capturing 40 percent of the entire global market by 2020. That's a lot of 345-mile trips.

[Source: Nikkei – sub. req. via Green Car Advisor]

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