Volkswagen, Toshiba Forge Electric-Drive Alliance
12 Februar 2009 - 8:23PM
Dow Jones News
Volkswagen AG (VOW.XE) said Thursday that it signed a letter of
intent with Toshiba Corp. (6502.TO) to cooperate on the development
of electric-drive units and related power electronics for the
German automaker's upcoming New Small Family cars.
"I am convinced that this will be a major step forward towards
the development of series production electric vehicles for our
customers," Volkswagen chief executive Martin Winterkorn said in a
statement.
"We look forward to building up a mutually beneficial
partnership with Volkswagen, a clear leader in the automotive
industry making strong initiatives in the development of
environmentally friendly cars," said Toshiba chief executive
Atsutoshi Nishida.
Volkswagen and Toshiba are also planning the joint development
of battery systems with a high specific energy density for electric
vehicles.
"A considerable amount of research and development work still
has to be carried out until we can produce the electric vehicle, in
the field of lithium-ion battery technology in particular,"
Winterkorn noted.
Europe's largest automaker by sales said it wants to be the
first manufacturer of an "emissions-free, affordable and safe
large-scale production electric vehicle."
Despite evaporating car sales due to lackluster consumer
confidence and tight credit markets amid the financial crisis,
global automakers and their suppliers are investing heavily in the
next generation of efficient battery systems, which is a crucial
component of future hybrid or electric vehicles.
The market for hybrid cars has so far been dominated by Japanese
automakers such as Toyota Motor Corp (7203.TO). But as consumers
became more and more interested in green technology and more
environmentally friendly cars, other automakers have joined the
race for reliable and safe technology for electric vehicles.
General Motors Corp. (GM) is planning to launch the
battery-powered Chevrolet Volt in 2010.
Company Web site: www.volkswagen.com
Company Web site: www.toshiba.com
-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512;
christoph.rauwald@dowjones.com