Sanyo Electric Creates Sanyo Energy Co. In China
Sanyo Electric Co. (Osaka, Japan) has created a lithium-ion secondary battery manufacturing subsidiary, Sanyo Energy Co. (Beijing, China), in the Beijing Economic Technological Development Area in China. The Sanyo Group provided 100 percent of the capital for the new company, which will start with package assembly of lithium-ion secondary batteries.
Starting in 2001, the new company will become a joint venture with capital investment from Tianjin Lantian Power Sources Co. (Tianjin, China) and will start production of bear cells for batteries in 2002.
For the time being, the new company will sell its products only to Beijing Nokia Mobile Telecommunications Ltd., a Nokia local joint venture company located in the same economic area in China.