Nissan and NEC to Form New Company for Advanced Batteries; Leading Company to Mass Produce Lithium-ion Batteries for the Global Automotive Community.Tokyo, Japan, Apr 13, 2007 - (JCN JCN Japan Corporate NewsJCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Nissan Motor Co., Ltd., NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corporation, and its subsidiary, NEC TOKIN Corporation, have signed an agreement to establish a joint-venture company - Automotive Energy Supply Corporation (AESC AESC Association of Executive Search Consultants AESC American Engineering Standards Committee AESC Automatic Electronic Switching Center AESC Aerospace Environmental Support Center AESC Aeromedical Evacuation Support Cell AESC Aerojet Electrosystems Company ) - to focus on lithium-ion battery Lithium-ion batteries (sometimes abbreviated Li-ion batteries) are a type of rechargeable battery commonly used in consumer electronics. They are currently one of the most popular types of battery for portable electronics, with one of the best energy-to-weight ratios, no business for wide-scale automotive application by 2009. Nissan and NEC Group will invest 490 million yen (approx. USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4.1 million*) in the partnership. AESC is expected to begin operations by the end of April, 2007, and will operate as an independent company. The new company will focus on the development and marketing of advanced lithium-ion batteries, designed to power future generations of electric-powered vehicles. After one year, the partnership will be expanded to include mass production and sales. The new joint venture will become the leading company in mass production of lithium-ion batteries for the global automotive community using pioneering technologies developed by Nissan and NEC Group. NEC and NEC TOKIN bring expertise in cell technology and battery manufacturing; while Nissan will focus on the cell stack for real-world application in electric-powered vehicles. AESC's core product will be advanced lithium-ion batteries for automotive application and the company will be fully responsible to market its products to other potential customers in the auto industry. AESC will mass produce lithium-ion batteries with a set of unique properties that makes them a highly competitive and appealing energy-generation solution for automotive application. Among the multiple advantages that the new batteries will offer are cutting-edge and environmentally-friendly technology, cost competitiveness, superior performance, safety, and versatility. Nissan's partnership with NEC represents a key component of its "Nissan Green Program 2010" mid-term environmental action plan, as announced in December, 2006. "As a `Sincere Eco-Innovator', Nissan continues to develop forward-looking `green technologies' that contribute to sustainable mobility. Nissan will introduce our own original hybrid vehicle For other types of "Hybrid Transportation", see . A hybrid vehicle (HV) is a vehicle that uses two or more distinct power sources to propel the vehicle such as: "Together, Nissan and NEC's engineers have addressed the key challenges of cost, performance, safety and reliability - we believe that we have a breakthrough technology in the lithium-ion battery product we will produce. Through AESC, this battery will be made available to all automakers, and we expect this could further accelerate the development of future generations of eco-friendly vehicles," explained Tavares. "NEC brings to the partnership years of knowledge, expertise, and resources in lithium-ion battery technology through NEC TOKIN's know-how, cultivated cultivated, n in herbal medicine, used to describe plants that are commercially farmed rather than collected from the wild. through long years of experience in battery business. Further co-development with Nissan has enabled a superior-class battery that we expect to spread in the market at an unmatched speed due to the wealth of benefits it will assuredly bring to our future eco-conscious customers," said Konosuke Kashima, Executive Vice President of NEC. "Moreover, the alliance with Nissan guarantees Nissan as a prospective customer of AESC. We will also strive to accelerate growth by expanding marketing to auto manufacturers worldwide." The evolution towards cleaner powertrains will see the proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. of a wider mix of electric-powered vehicles including hybrids, plug-in hybrids, hydrogen fuel cell vehicles
New Company Outline
Name: Automotive Energy Supply Corporation (AESC)
Headquarters: Sagamihara, Kanagawa, Japan
Date of Establishment: April 19, 2007
Business Description: Development and marketing of advanced lithium-ion
batteries for automotive application
Start of Production: 2009
Capital: 490 million yen (approx. USD 4.1 million*)
Stakeholders: Nissan Motor Co., Ltd. (50%)
NEC Corporation / NEC TOKIN Corporation (50%)
Management Structure: President: Masahiko Otsuka
Vice President: Nobuaki Yoshioka
(And 4 board members)
* Calculated at 1 JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. = 0.00837922 USD About NEC Corporation NEC Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6701; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NIPNY) is one of the world's leading providers of Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). network and enterprise business solutions dedicated to meeting the specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. needs of its diverse and global base of customers. NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 150,000 people worldwide. For additional information, please visit the NEC home page at: http://www.nec.com or the Newsroom: http://www.nec.co.jp/press/en/ About Nissan Motor Co., Ltd. Nissan Motor Co., Ltd. was established in 1933 to manufacture and market the Datsun, a small passenger car, and related automotive components. The company markets a wide range of passenger cars, commercial vans, trucks and buses, parts and components in over one hundred and seventy countries. The company has also expanded its operations to include forklifts, textile machinery and other industrial machinery and equipment. Nissan's affiliation with French automaker Renault in 1999 has helped produce Nissan's best results in a decade. The company has three hundred and forty two consolidated subsidiaries worldwide. About NEC Tokin NEC TOKIN Corporation creates next-generation, value-added devices that integrate TOKIN's sophisticated material development and application skills with NEC's expertise in high-density technology and miniaturization min·i·a·tur·ize tr.v. min·i·a·tur·ized, min·i·a·tur·iz·ing, min·i·a·tur·iz·es To plan or make on a greatly reduced scale. min . Starting with custom-designed materials, we produce highly innovative devices for three core fields: energy, networks, and functional applications. Today, our commitment to precision is taking us beyond micro, into the realm of nano (1) Billionth (10 to the -9th power). See space/time. (2) Refers to the nanotech industry in general. See nanotechnology. (3) See iPod nano. , establishing new standards for the global electronics revolution, and giving birth to new and exciting dreams. Source: NEC Corporation Contact: Nissan Motor Co., Ltd. Communications CSR Department Global Communications CSR and IR Division Tel: +81-(0)3-5565-2141 http://press.nissan-global.com/EN NEC Corporation Corporate Communications Division Tel: +81-(0)3-3798-6511 d-foley@ax.jp.nec.com NEC TOKIN Corporation Corporate Communications Office Tel: +81-(0)3-3515-9118 kobiyamah@nec-tokin.com Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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