Mazda invests more than 10 billion in electric batteries
2022.11.22 00:08
Mazda invests more than 10 billion in electric batteries
Budrigannews.com – Mazda Motor of Japan (OTC:)The business daily reported on Tuesday that the company intends to invest 1.5 trillion yen ($10.6 billion) by 2030 in order to acquire batteries for electric vehicles (EVs) and work with battery supplier Envision AESC.
The newspaper said that the automaker with its headquarters in Hiroshima will work with Envision AESC to get batteries and try to make more fully electric cars at factories in Japan.Envision AESC and Mazda both declined to comment.In the face of stricter environmental regulations, automakers all over the world are spending billions of dollars to increase production of electric vehicles and batteries.
Toyota Motor (NYSE:) in AugustIn contrast to hybrid gasoline-electric vehicles like the Prius, Corp. stated that it would make investments of up to 730 billion yen in Japan and the United States to produce batteries for fully electric vehicles.In the same month, Honda Motor Co. announced that it would partner with Korean battery supplier LG Energy Solution Ltd. to construct a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States.
Mazda will hold a news conference on Tuesday at 05:30 GMT to discuss its medium-term business plan.Envision AESC CEO Shoichi Matsumoto told Reuters last month that the company was in talks with Japanese, European, American, and Chinese automakers about new supply agreements.Envision AESC, headquartered in Japan, is the battery business of the Chinese renewable energy group Envision. It was initially established as a joint venture between Nissan (OTC:) and Envision.NEC Corporation, NEC TOKIN Corporation, and Motor Co.
($1 = 142.240 yen)
