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TOKYO (MarketWatch) -- Hitachi Ltd. (6501.TO) and Johnson Controls Inc. /quotes/zigman/230763/quotes/nls/jci JCI -0.31% said Monday they will team up to produce lithium-ion batteries for use in electric cars and advanced power distribution systems, the latest in a series of tie-ups and joint ventures looking to capitalize on the burgeoning market for next-generation batteries.
Tokyo-based Hitachi, which makes everything from consumer electronics to nuclear power plant and railway systems, and Milwaukee-based Johnson Controls, the world's leading supplier of conventional lead-acid car batteries such as Toshiba PA3399U-1BRS Battery , Toshiba PA3395U-1BRS Battery , Toshiba PA3250U-1BRS Battery , Toshiba PA3356U-1BRS Battery , Toshiba PA3291U-1BRS Battery , Toshiba PA3506U-1BRS Battery , Toshiba PA3591U-1BRS Battery , Toshiba Portege 4000 Battery , Toshiba Satellite A10 Battery , Toshiba Satellite A100 Battery , said they will work together in all aspects of the lithium-ion battery business--from research, development and production to marketing and sales.
Demand for lithium-ion batteries is expected to grow sharply in the near future as electric cars and so-called smart grid electricity distribution systems become more widespread. Automakers and electronics companies worldwide are rushing to develop and produce the batteries--often through tie-ups--and the still-nascent market is already looking very crowded.
Toshiba Corp. (6502.TO) and Mitsubishi Motors Corp. (7011.TO) are jointly developing car battery systems. Meanwhile, Panasonic Corp. (6752.TO) is in the process of turning subsidiary Sanyo Electric Co. (6764.TO), a global leader in lithium-ion batteries for consumer electronics, into a wholly owned unit.
By combining Hitachi's technological expertise in lithium-ion batteries with Johnson Control's strong automaker client-base and mass production infrastructure, the partnership will benefit both firms, a Hitachi spokeswoman said.