Hitachi, others form hybrid car battery venture

Newswire

TOKYO, June 30 (Reuters) - Japan's Hitachi Ltd , Hitachi Maxell Ltd and Shin-Kobe Electric Machinery Co Ltd said on Wednesday they had formed a joint venture to make rechargeable lithium-ion batteries for hybrid cars. The venture, aimed at tapping into the growing market for hybrid vehicles and capitalised at 1.5 billion yen ($13.86 million), is owned 43.7 percent by Shin-Kobe, 36.7 percent by Hitachi and 19.6 percent by Hitachi Maxell. Nickel metal-hydride batteries are currently used ...

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