April 2, 2009 / 11:38 PM / 11 years ago

M'bishi Motors to double electric car output-Nikkei

TOKYO, April 3 (Reuters) - Mitsubishi Motors Corp (7211.T) will double its production capacity target for its iMiEV electric car to an annual 20,000 units in three years and lift output of lithium ion batteries, the Nikkei business daily said on Friday.

The automaker had initially planned to make 2,000 plug-in electric cars this business year and raise that to 10,000 units in the year ending March 2012.

But orders from Tokyo Electric Power Co Inc (9501.T) and Japan Post are likely to have already filled Mitsubishi Motors’ target for the 2009/10 business year, the Nikkei said.

A lithium ion battery joint venture between Mitsubishi Motors, GS Yuasa Corp (6674.T) and Mitsubishi Corp (8058.T) will also invest roughly 3 billion yen ($30 million) to more than double capacity at a plant in Shiga Prefecture, western Japan, to 5,000 units a year by autumn 2010, the paper said. (Reporting by Mayumi Negishi; Editing by Chris Gallagher)

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