Apr, 17 2017 11:00 JST

Source: Denso

Suzuki, Toshiba and Denso Reached Basic Agreement to Establish Joint Venture Company for Production of Automotive Lithium-Ion Battery Packs in India


TOKYO, Apr, 17 2017 - (JCN Newswire) - Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation have reached basic agreement on establishing a joint venture company for production of automotive lithium-ion battery packs in India, and signed the agreement.

In India, higher attention is being paid to environment, and new CO2 standards for automobiles is planned to be introduced. In the Indian automotive market where compact cars are the mainstream models, introduction of sustainable technology suitable for such affordable cars is required. The battery pack manufacturing joint venture by the three companies will realize stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country and will contribute to "Make in India" initiative by the Indian Government.

The joint venture company will be established within 2017 and shall move to manufacturing phase at earliest possible timing. The initial capital expenditure will be 20 billion Japanese yen. The joint venture company will be capitalized at 2 billion Japanese yen, with the planned participation ratio of SUZUKI 50%, TOSHIBA 40% and DENSO 10% respectively.

Establishment of the joint venture company will be further examined in details by the three companies, and subject to approval by respective authorities in accordance with applicable competition laws.


About Denso
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.


Contact:
Sadayoshi Yokoyama, Toshiko Watanabe 
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
sadayoshi_yokoyama@denso.co.jp 
toshiko_watanabe@denso.co.jp
Source: Denso
Sectors: Automotive

Copyright ©2017 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


DENSO to Build a New Plant at DENSO Iwate as Part of Efforts to Enhance the DENSO Group Production System
March 29 2017 11:49 JST
 
DENSO Using Plant-derived Plastics in Its Products
March 22 2017 10:48 JST
 
The European Commission's Announcement Concerning the EU Competition Law related to Certain Automotive Components
March 09 2017 10:21 JST
 
DENSO Announces Third Quarter Financial Results
February 02 2017 16:17 JST
 
DENSO Established "Crafting the Core" as its Brand Slogan
January 03 2017 15:42 JST
 
DENSO Develops Small Stereo Vision Sensor
December 27 2016 12:09 JST
 
DENSO and NEC Start Collaboration on AI- and IoT-based Advanced Driver Assistance, Automated Driving, and Manufacturing
December 26 2016 11:19 JST
 
DENSO to Launch Joint Research on Multithreaded CPU Cores with Imagination Technologies
November 14 2016 10:56 JST
 
DENSO Announces First-half Financial Results
October 28 2016 12:22 JST
 
DENSO Improves Performance of In-vehicle Vision Sensors
October 25 2016 12:52 JST
 
More Press release >>

Latest Press Release


More Latest Release >>