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Article: Hitachi Expanding Hybrid Cap - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- July 2, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Hitachi Expanding Hybrid Cap - Analyst Blog
HIT's Lithium-Ion Capacity Expands
Hitachi Ltd.
(
HIT
), a Tokyo-based global conglomerate, is expected to supply advanced lithium-ion batteries to
General Motors
(
GMGMQ
) in 2010 for use in its gasoline hybrid-electric vehicles (HEV). The deal with GM will increase Hitachi's production capacity for lithium-ion and expand its business in the automotive-related field. It will also meet rising demand for gas-electric cars.
Hitachi expects the global market for HEVs to expand from 690,000 units in 2007 to 1.5 million units in 2010. As a result, Hitachi estimates the demand for HEV lithium-ion batteries to overtake that of the current mainstream nickel ...