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.
Originally posted on Fleet Financials