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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.

GS Yuasa recently dissolved its long-standing, money-losing joint venture with Sanyo, but that move has not impacted the company's ability to develop breakthrough battery technology. GS Yuasa has developed and prototyped a new vanadium phosphate cathode material for lithium-ion batteries and the initial round of testing shows that the cathode material could improve output density, increase battery safety and potentially lead to the production of lower cost lithium-ion batteries.

Intensifying price competition from South Korean battery manufacturers has driven Sanyo Electric Co. and GS Yuasa Corp. to dissolve their long-standing lithium-ion battery joint venture (JV). According to a joint announcement, the liquidation of the Sanyo GS Soft Energy Co. JV was inevitable as the venture had posted net losses for two years running. The decision to dissolve the JV may hinder Sanyo's ability to collect loans valued at 4 billion yen ($47.5 million U.S. at the current exchange rat