Hitachi Consolidates Hybrid Battery Affiliate

According to The Nikkei Times, Hitachi Ltd. has made a subsidiary out of a consolidated affiliate that is developing and manufacturing Li-ion batteries for hybrid vehicles. Hitachi raised its stake in Hitachi Vehicle Energy Ltd. from 36.7% to 63.8%, providing ¥4B in fresh funds in exchange for new shares. A Hitachi Chemical Co. subsidiary also supplied an additional ¥1B to Hitachi Vehicle Energy.

Hitachi boasts expertise in motors and inverters for hybrid vehicles. It will ramp up efforts to develop next-generation products in the field by fortifying its tie-up with Hitachi Vehicle Energy, which makes Li-ion batteries mostly for Isuzu Motors Ltd. trucks.