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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (78379)	4/26/2008 3:17:37 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Elroy, Ajtj, what do you know about this? Story from 2006 ocweekly.com The battery we use is the NiMH, same as used in cameras and small cylinder AA, AAA, etc. Toyota-Panasonic formed a partnership "PEVE" to license and improve NiMH for EVs. Around this time, GM purchased the worldwide patent rights to the NiMH battery. Later, GM decided to sell those rights to Texaco, which then merged with Chevron. Chevron then put the battery rights under control of a Joint Venture, "COBASYS," and decided to fund a lawsuit against large-format (electric car battery) competitors such as Toyota-Panasonic. Chevron's lawsuit led to a settlement agreement with PEVE (and Sanyo, etc.) whereby Toyota paid $30M to Chevron, Toyota was granted the rights to use "small-format" batteries on the Prius, and Toyota agreed not to build "large-format" versions of its batteries (needed for plug-in cars) for export to the U.S. until 2014. At least, that's what it seems to be; portions of the settlement agreement are still secret. Hence, Chevron and GM together led to the end of Toyota's RAV4-EV program, it seems; at the current time, only Chevron is allowed to market "large-format" NiMH batteries in the USA, and Chevron has decided not to do so. In fact, Chevron won't sell its NiMH batteries to anyone except large fleets, it says. When I say Chevron, I am referring to their Joint Venture, "COBASYS," which is their unit controlling the batteries.