Sanyo aims to grab 40% share in global eco-car battery market in 2020

**Admin** Thu Nov 18, 2010 4:17 pm

Sanyo Electric Co said Thursday it aims to grab a 30 to 40% share of the global battery market for ecology-friendly cars in 2020. The Panasonic group firm said it expects the market for rechargeable batteries for environmentally-friendly vehicles such as hybrids and plug-in hybrids to grow to 1.5 trillion yen in 2020.

‘‘We currently have a 27 to 28% share in the global nickel metal hydride battery market (for hybrid vehicles),’’ said Sanyo Executive Vice President Mitsuru Homma. ‘‘We’d like to grab a share of 30 to 40% in 2020 and it is true that our aim has begun to turn to conviction,’’ he added.

Sanyo has been asked by six to seven companies to supply the batteries, Homma said.

Sanyo plans to start mass producing batteries for plug-in hybrids and electric vehicles at its new plant in Kasai, Hyogo Prefecture, from the middle to the latter half of next year.

Sanyo estimates the global rechargeable market including lithium-ion batteries for large-scale power storage and electric appliances to expand to 5 trillion yen in fiscal 2020 from the current 1.5 trillion yen.

Japantoday