I another e-mail from Don Shorling from EV World People + technology Monday Oct.6,2003. I do not have E-mail address.
Fuji Heavy to Sell Hybrid Batteries to General Motors
GM announces it will be able to build 1 million hybrid cars and trucks annually by 2007.
Source: Bloombergs
[Aug 13, 2003]
Fuji Heavy Industries Ltd. plans to supply hybrid batteries to General Motors Corp. by 2006 to benefit from its alliance with the world's biggest automaker, which is increasing production of environmentally friendly cars.
General Motors, which owns 21 percent of Fuji Heavy, will start selling gasoline-electric hybrid versions of its Chevrolet Silverado and GMC Sierra pickup trucks this year and has said it will be able to build 1 million hybrid cars and trucks annually by 2007. Fuji Heavy President Kyoji Takenaka said the company, which makes Subaru brand cars, is testing the new batteries to be used by General Motors.
Tokyo-based Fuji Heavy, which forecasts a rise in profit for the third consecutive year, needs to exploit its alliance with General Motors as it has too few models to compete with companies like Toyota Motor Corp. and Honda Motor Co., investors said.
``It would be a really good move for Fuji Heavy,'' said Norihito Kanai, who helps manage the equivalent of $2.5 billion at Meiji Dresdner Asset Management Co.
General Motors is starting to introduce cars with hybrid motors, which emit as little as 60 percent of the carbon-dioxide released by the traditional internal combustion engine, six years after Toyota began selling such cars. Detroit-based General Motors is evaluating a variety of battery technologies, including Fuji Heavy's, for its hybrid vehicles, said Larry Burns, the U.S. company's vice president of research and development.
Discussions
``We are very impressed with their technology,'' Burns said at a press event today in Irwindale, California. ``We've had discussions with them,'' he said, without disclosing specifics.
Tighter government restrictions on vehicle emissions and higher fuel prices are boosting demand for such vehicles worldwide. Hybrids such as Toyota's Prius and Honda's Civic are equipped with nickel hydride batteries made by Panasonic EV Energy Co.
Fuji's manganese lithium-ion batteries, being developed with NEC Corp., will last longer than Panasonic's nickel hydride batteries and handle temperature extremes better, Takenaka said in an interview at Fuji's headquarters in Tokyo.
``We are conducting tests with GM group companies,'' Takenaka said. ``We should be able to reduce costs by producing a lot of them.''
Nickel hydride batteries last about five to six hours, Takenaka said.
``Lithium-ion batteries are considered to be more fuel efficient than nickel hydride batteries partly because they are lighter and last longer,'' said Toru Iwai, an analyst at Credit Suisse First Boston Japan Inc.
NEC and Fuji in May 2002 formed NEC Lamilion Energy Ltd. to make rechargeable batteries for automobiles. The venture is 49 percent owned by Fuji.
Fuji Heavy shares, which have risen 24 percent this year, fell as much as 2.4 percent to 576 yen in Tokyo in morning trading. Fuji's bonds due in 2008 fell 0.042 points to 102.640 per 100 yen face amount to yield 0.687 percent yesterday, according to the Japan Securities Dealers Association. General Motors shares rose 13 cents to $37.11 in New York Stock Exchange composite trading on Monday.
Increasing Purchases
Takenaka said the maker of Legacy sedans is on course to increase buying auto parts and services through General Motors' network to 30 percent of all such purchases in the year starting April 1, 2004, from 10 percent in the fiscal year just ended.
Fuji is trying to cut costs by as much as about 30 percent to meet its profit target of 35 billion yen ($295 million) in the year ending March 31, 2004, from 33.4 billion yen last year.
The company has three model lines, the Legacy, the Forester and the Impreza, compared with more than 60 by Toyota, the world's third-biggest automaker by unit sales.
Fuji and General Motors are also discussing plans for Fuji to start selling cars in China, the fastest growing auto market in Asia. Fuji plans to use General Motors' sales network in the country, where auto sales are forecast to triple to 5.8 million units by 2010, according to McKinsey & Co.
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The part I would like to know is the cycle data to compare with ECD's batteries. (So much for GM looking to use NMH from there former plant.)I would like to see more data on these batteries.
Allen |
