Matsushita Electric Establishes Battery Plant in China
Matsushita Electric Ind. Co. Ltd. (Japan) is establishing a lithium-ion battery plant in Wuxi New District, China. With an initial investment of $90.0 million in its first phase, the plant is expected to be complete by the end of 2001, with mass production starting early in 2002. Annual capacity is expected to be 108 million units.
The company will export most of its output to the US and Japan. The products will be used for laptop computers, mobile communication equipment, electric instruments and other IT products.