NEC will make use of a Japanese government subsidy to increase production capacity at its plant in Sagamihara, a Japanese city located west of Tokyo. NEC's plans call for production levels to reach ten million kilowatt-hours by the end of 2012, up from its current annual capacity of two million kWh. Not all of these batteries will go into cars, but you can bet a lot of them will.
Japan's Ministry of Economy, Trade and Industry will dish out 110 billion yen ($1.3 billion U.S. at the current exchange rate) to fund 153 projects aimed at reducing emissions and creating jobs. NEC, along with companies that include Toyota Motor Corp. and Hitachi Ltd., previously submitted proposals that have since been approved for government subsidies. Hat tip to David!
NEC to Expand the Production Capacity of Electrodes for Advanced Lithium-Ion Batteries - Supported by METI's "Regional Development Subsidy for Enterprises Creating Employment and Adding to a Low-Carbon Society" -
Tokyo, December 27, 2010 - The NEC Group announced today that the Ministry of Economy, Trade and Industry's (METI) "Regional Development Subsidy for Enterprises Creating Employment and Adding to a Low-Carbon Society" is supporting the Group's capital investment in reinforcing its production capacity of electrodes for rechargeable high-capacity lithium-ion batteries.
This capital investment will be carried out by NEC Energy Devices, Ltd. (NECED; Sagamihara City, Kanagawa Prefecture), a wholly owned NEC Corporation subsidiary that develops and produces rechargeable high-capacity laminated lithium-ion batteries. NECED will leverage the subsidy to increase electrode production capacity by the 2012 fiscal year.
This expansion is a major milestone towards the NEC Group achieving a capacity of 10 million kilo watt-hours (kWh) per year in the 2012 fiscal year, compared with the current capacity of 2 million kWh per year. The NEC Group aims to continue expanding its production capacity to meet customer requirement.
Going forward the NEC Group will promote its smart energy and green business centered by advanced lithium-ion battery to hold a leading global position.
About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.