Just days after the announcement from Nissan CEO Carlos Ghosn stating that the company plans to have the ability to produce up to 500,000 EV batteries annually, its French partner Renault has formed a joint venture to produce lithium-ion batteries en masse.
Renault has teamed up with the French Atomic Energy Commission and the French Strategic Investment Fund to produce lithium-ion batteries for use by the company as well as any other automaker who wants to utilize their technology.
The joint venture will focus on the full lifecycle of the batteries. From engineering, to development, to application, and on to end of life recycling, all aspects pertaining to the li-ion battery will be addressed.
Work on the li-ion batteries will begin soon and the companies hope to begin the production of their li-ion batteries by 2012. The investment from the companies will total $600 million euros and they expect an annual capacity of 100,000 units.
It is unclear if Renault will utilize cell technology from partner company Nissan or if they will focus on their own cell development. The joint venture, similar to the Nissan AESC joint venture, will provide Renault with both funding and resources needed to developed advanced batteries.
Source: Green Car Congress