UPDATE 1-Volkswagen, Sanyo to develop lithium-ion batteries


(Adds details) TOKYO, May 28 (Reuters) - Sanyo Electric Co and Volkswagen AG said on Wednesday they would jointly develop lithium-ion batteries, joining an intensifying race to provide the key component for the next generation of hybrid cars. Sanyo, which has the biggest global market share of lithium-ion batteries used in personal computers and mobile phones, said it would spend 80 billion yen ($769 million) over the next seven years for the project, aiming to begin mass production in ...

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