GS Yuasa, the lithium-ion battery maker that recently dissolved its joint venture (JV) with Sanyo, is now eying the possibility of setting up shop with the assistance of Mitsubishi Corp. and Magna International Inc. The Nikkei reports that GS Yuasa will hold a majority stake in a new joint venture that's aimed at boosting lithium-ion battery production in Europe. Magna will reportedly hold a 20-40-percent share in the JV and Mitsubishi the remainder.
Under terms of the deal, GS Yuasa, Mitsubishi and Magna will build a 40 billion yen ($466 million U.S. at the current exchange rate) factory in Spain or Austria. Construction is expected to begin early next year and the plant should be operational sometime in 2012. Production capacity will ramp up slowly until reaching a level that supplies roughly 50,000 vehicles annually.

Finding automakers interested in soaking up the additional li-ion supply appears to be a done deal. The Nikkei newspaper is reporting that:
The lithium ion batteries will likely be used for a new electric vehicle that French firm PSA Peugeot Citroen Group plans to produce in Spain. The three companies also aim to provide them to such Magna customers as Ford Motor Co. and German firm BMW AG.
The powerhouse trio is reportedly considering the addition of a similar plant in North America, though no further details are available at this time.

[Source: Green Car Congress]

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