Advertisement
 
Advertisement
 

 

ASIA PACIFIC - business / finance News

Close this X 

 

E-mail this news to a friend.

 

Your friend's E-mail : 

Your Name : 

Your Email : 

Message Subject : 

    

 

Bookmark and Share

 

Asia Pacific News - Hitachi to sell batteries to GM

Updated - 3/7/2009 - bbc.co.uk.

 

Hitachi has announced that it will be providing lithium-ion batteries that power hybrid cars to General Motors from next year.

The electronics company also said it planned to increase its production of the batteries from 40,000 cells a month to three million a month.

Hitachi’s rivals have also been raising battery production for hybrid cars.

Toyota said last month that it planned to use lithium-ion batteries for the first time in its plug-in hybrids.

Its hybrids currently use nickel-metal hydride batteries.

Hitachi shares closed up 3% at 307 yen.

Batteries for hybrid cars are among the products it is relying on to return to profitability.

Last month, it reported a net loss of 787.3bn yen ($8.1bn; £5.3bn), which was the record annual loss for a Japanese manufacturer.

It also warned that the next year would continue to be difficult and forecast a loss of 270bn yen.

In January, Hitachi said it planned to cut up to 7,000 jobs because of a big fall in sales.

 

Bookmark and Share

 

Advertisement

 

Advertisement

 

News:
Business  |  Diaspora  |  Education  |  Entertainment  |  Features  |  National  |  Cinema  |  Sports  |  Tourism

  © AussieIndoLanka.com (Terms of Use | Privacy Policy)               20 Users Online            Solution by ICTIP - Your e-Commerce Architects

Valid CSS!