Japan’s GS Yuasa Automotive is known for lead-acid batteries, for which it claims to have a 70% market share in the Japanese market. The company also makes lithium-ion batteries for standard and plug-in hybrids through Lithium Energy Japan, a joint venture with partners including Mitsubishi and Honda.

Now GS Yuasa plans to enter the market for EV batteries as early as next year. President Osamu Murao told Nikkei Asia that his company will shift its focus from hybrids, and follow the industry’s global transition to pure EVs.

GS Yuasa recently formed a new department for the project, bringing in engineers from its hybrid and PHEV operations. The team aims to develop Li-ion cells with the energy density and durability needed for EVs. The company also plans to work with partners on EV batteries, splitting the cost of new production facilities.

“We’ll mark a full start on EV batteries under our new medium-term plan starting in fiscal 2023,” says Murao.

Source: Nikkei Asia