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Nissan, NEC in Talks to Develop Lithium-Ion Batteries

December 29, 2006

NASHVILLE --- Nissan and NEC Corp. are negotiating terms for a possible joint venture to develop lithium-ion batteries for gasoline-electric hybrid and fuel-cell cars. According to a report from Bloomberg, the venture would compete with a battery company formed by Toyota and Matsushita Electric Industrial Co. If finalized, the Nissan-NEC joint venture is expected to spend more than $84 million to build a battery-producing factory, with Nissan holding a stake that's less than 50 percent. Part of the business will be sold to outside companies.
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