By Mariko Yasu and Maki Shiraki
March 1 (Bloomberg) — GS Yuasa Corp. plans to boost annual production of lithium-ion batteries 10-fold over two years to meet demand for alternative-fuel vehicles.
GS Yuasa plans to boost production of battery cells to equip 9,000 vehicles in the year ending March 2011 from 2,000 this fiscal year and raise it to about 20,000 the following year, President Makoto Yoda said in a Feb. 26 interview.
The company, which has partnerships with Honda Motor Co. and Mitsubishi Motors Corp. to make lithium-ion power cells for electric and hybrid vehicles, competes against Osaka- based Sanyo Electric Corp. to win automakers as clients. Mitsubishi Motors raised its sales target for the i-MiEV electric car to 9,000 units from 8,500 for next fiscal year, President Osamu Masuko told reporters Feb. 17.
“We’re getting very strong signals of orders from carmakers including Mitsubishi Motors,” Yoda, 60, said in Kyoto, western Japan, where the company is based. “How much we can boost production will be crucial for our fiscal year 2010.”
The company is adding production lines, improving efficiency and extending operating hours at existing plants to boost output, Yoda said.
The shares rose 0.8 percent to close at 622 yen in Tokyo trading on Feb. 26. The stock has lost 8.7 percent this year, compared with a 4 percent decline by the benchmark Nikkei 225 Stock Average.
Toyota Recall Fallout
Recalls of Prius hybrid cars by Toyota Motor Corp. may harm the overall energy-efficient car market this year, Yoda said.
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Source: businessweek.com
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