Sanyo Electric Co. said it will invest Y3.6 billion (approx. U.S. $32.4 million) to build a factory in western Japan that will produce lithium ion batteries as of May 2004.
With the new factory, to be built in Tokushima, the Japanese consumer electronics maker plans to boost its global lithium ion battery production capacity by 50 percent from its current monthly production of 39 million units.
Sanyo is said to be a leading maker of rechargeable batteries. It expects business to grow, in line with expanding markets for mobile electronic gadgets, the company said. Lithium ion batteries are widely used in mobile phones, notebook personal computers, and video cameras.
Sanyo plans to employ about 350 workers at the new factory by the end of March 2006, the company said. (Dow Jones)
to Daily News