Toyota, Matsushita jv to build new car battery plant

Newswire

TOKYO, May 27 (Reuters) - A car battery joint venture between Toyota Motor Corp and Matsushita Electric Industrial Co Ltd said on Tuesday it would build a 30 billion yen ($290 million) plant to make nickel-metal hydride batteries for hybrid cars. Toyota is the global leader in hybrid cars, demand for which is growing rapidly due to record-high oil prices and concerns over climate change, while Matsushita offers Panasonic brand electronics. The new factory, scheduled to come onstream ...

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