Toyota (TM) To Use Sanyo (OTC:SANYY) Lithium Batteries For Hybrids?

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12:28:37 pm on August 20, 2009

Sanyo (OTC:SANYY) shares continue to rally along with Panasonic (PC) shares (which plans to merge with Sanyo) on news that Toyota (TM) plans to begin purchasing lithium batteries from Sanyo beginning in 2011 according to a Reuters source who remains anonymous since the info hasn’t been made official yet.  Toyota plans to purchase about 10,000 batteries a year and rumor has it that they’ll use it in a minivan hybrid expected to launch in about two years.  Sanyo currently supplies nickel metal hydride batteries to Honda (HMC) for its Insight hybrid and has a relationship with Volkswagen as well.  Panasonic currently provides Toyota nickel-metal hydride batteries for the Prius and other models and plans to double production to a million units/per year within the year.  Of course, the two companies are denying the rumors.

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