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The multinational Dow Chemical Company has formed a joint venture with Japan's Ube Industries to produce electrolytes for use in automotive lithium-ion batteries.

The Nikkei, a Japanese news outlet, reports that Hitachi Ltd. and Ube Industries Ltd. will establish a joint venture to manufacture separators for lithium-ion batteries bound for use in the automotive industry. Apparently, both firms are looking to bolster their position in the battery market and hope to do so by joining forces and achieving economies of scale.