FRANKFURT, June 19 German industrial group
Robert Bosch GmbH said on Wednesday it had agreed to
work on next-generation lithium-ion batteries with Japan's GS
Yuasa International Ltd. and Mitsubishi Corporation
The companies intend to set up a joint venture to conduct
research and development and provide sales and marketing support
to the three parent companies.
The batteries will be used for zero-emission vehicles such
as plug-in hybrids or electric cars.
Plans call for the venture to start operations at the
beginning of 2014, with Bosch's hometown of Stuttgart serving as
Bosch will hold a 50 percent share in the joint venture,
with GS Yuasa and Mitsubishi Corporation each holding 25
percent. The composition of the management and supervisory
boards will reflect these stakes.
This is Bosch's second attempt at forming a lithium-ion
battery venture with an Asian partner.
In September, South Korean battery maker Samsung SDI Co Ltd
said it would pay $95 million to buy Bosch's 50
percent stake in SB LiMotive Co Ltd, ending a joint venture
formed in 2008.
(Reporting By Christiaan Hetzner; editing by Jane Baird)