German automaker Volkswagen AG will team up with Japan’s Sanyo Electric to develop a lithium-ion battery for next-generation hybrid vehicles, the Japanese company announced Wednesday.By joining forces with Sanyo, which aims to be a world leader in rechargeable batteries, Volkswagen is apparently seeking to catch up with rivals in the race to develop and sell eco-friendly vehicles.
Sanyo and Volkswagen have worked together in the past in battery development. The Japanese company has also supplied nickel-metal hydride batteries to Ford Motor Co. and Honda Motor Co.
Automakers are stepping up their focus on lithium-ion batteries amid increasingly interest in fuel-efficient vehicles at a time of soaring petrol prices.
