Bosch, Yuasa and Mitsubishi Corporation have set up a joint venture to improve EV battery capacity for future vehicles.
Known as Lithium Energy and Power, the new company will be based in Stuttgart, and will develop next-generation lithium-ion battery technology.
This next generation is needed, according to the partners, "to make the electric vehicle a successful mass product in the next decade".
"In setting up this joint venture, we want to achieve nothing less than a giant leap forward in the development of battery technology," says Dr Volkmar Denner, who, as chairman of the board of management of Robert Bosch, is responsible for research and development. Our aim is to make lithium-ion batteries twice as efficient.
For electric vehicles, more efficient batteries will mean greater range. For consumers, the car will also be more affordable, since the rechargeable batteries can be smaller.
"Robert Bosch GmbH and its partners are confident that electromobility will become a mass market from 2020 onward. Electromobility is an important step toward making mobility climate-friendly and sustainable."
Bosch holds a 50% stake with GS Yuasa International and Mitsubishi Corporation each holding 25%.
Bosch specialises in the monitoring and control of cells and complete systems, as well as in integrating them into vehicles. In addition, it will contribute its know-how in production processes and quality management relating to the large-scale series production of complex products.
GS Yuasa will contribute its experience in manufacturing lithium-ion battery cells whose high density makes for a longer range, as well as its expertise in materials systems and electrochemistry. As an established manufacturer of automotive and non-automotive lithium-ion battery cells, GS Yuasa has a strong engineering team and modern production lines with a high level of automation.
Mitsubishi Corporation will contribute its global sales network and experience as an integrated global business enterprise.