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.

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KUALA LUMPUR, Nov. 15, 2007 (Thomson Financial delivered by Newstex) — A deal has been struck to forge a partnership between Malaysian national carmaker Proton Holdings Bhd (OOTC:POHDF) and Germany’s Volkswagen AG, the Edge Financial Daily reported on Friday.

The negotiations between the Malaysian government and Volkswagen has been concluded and a memorandum of intent (MOI) will be signed soon, the newspaper said, citing unnamed sources.

The MOI is expected to set the stage for further due diligence and collaboration between the two parties, the sources said.

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Martin Winterkorn, chief executive of Germany-based automobile manufacturer Volkswagen, has been quoted as saying that the company plans to review the pricing of its US cars more aggressively and intends to remove some of the costly features not favored by the local customers, reported Reuters.

The move is seen as an effort to lessen the sales gap between Volkswagen and Japan-based Toyota Motor, Reuters reported, citing the Wall Street Journal Europe as its source.

The report quoted Mr Winterkorn as saying: “We have definitely added too many technical items that (American) customers don’t want to pay for.”

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