Electric vehicleGermany – The new Lithium Energy and Power joint venture, headquartered in Stuttgart and with a 70-strong workforce, will begin operations in 2014 with the aim of developing the next generation of lithium-ion battery technology.

“In setting up this joint venture, we want to achieve nothing less than a giant leap forward in the development of battery technology,” commented Volkmar Denner, chairman of the Bosch board of management, with responsibility for research and development. “Our aim is to make lithium-ion batteries twice as efficient.”

More efficient batteries will improve vehicle range and affordability; the joint venture believes this new generation is needed “in order to make the electric vehicle a successful mass product in the next decade”.

Bosch will support the joint activities with its portfolio of electromobility components; GS Yuasa will draw on its substantial experience of lithium-ion battery manufacturing; Mitsubishi will contribute its global sales and supply chain expertise.