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Suzuki, Eliiy Power to Partner on EV Batteries
Suzuki Motor Corp. and battery maker Eliiy Power Co.
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Suzuki Motor Corp. and battery maker Eliiy Power Co. Ltd. have agreed to jointly develop lithium-ion batteries for electric vehicles, The Nikkei reports. The joint activity will be hosted at Eliiy's tech center in Otsu, Japan.
Suzuki spent $12 million in April to buy a minority stake in Eliiy Power, a maker of stationary backup batteries. Four other companies invested an additional $22 million in the Tokyo-based manufacturer, which said at the time it aimed to eventually make EV batteries.
Eliiy is constructing a second battery plant in Kawasaki, Japan. The $185 million facility will boost the company's annual production capacity sixfold to 1.2 million cells.
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