Japanese electronic conglomerate Toshiba Corp said on Monday it is developing lithium-ion batteries with multiple automakers as it seeks to benefit from growing demand for more environment-friendly cars.

Electronics companies are increasingly teaming up with automakers to supply battery systems for electric cars and hybrid vehicles, with output of rechargeable batteries expected to jump five-fold in the next five years. Mostly recently Sanyo Electric, the world's largest maker of such batteries, addded Suzuki Motor to a list of automakers to which it supplies batteries, while Panasonic Corp and Toyota Motor Corp are producing lithium-ion batteries through a joint venture.

Publish date: May 17, 2010 1:31 pm| Modified date: December 18, 2013 6:18 pm