Toshiba Corporation has announced it will invest JPY 16.2 billion (around US$144 million) in a second Japanese manufacturing facility for its SCiB rechargeable lithium-ion batteries.
The Japanese industrial conglomerate says the new JPY 16.2 billion facility will be located in Yokohama, Kanagawa prefecture, across an area of 27,000 square meters.
Start of construction is slated for July 2019, while the first batteries are expected to be produced by the following October.
Currently, Toshiba Infrastructure Systems & Solutions Corporation (TIS) manufactures its SCiB rechargeable lithium-ion batteries in Kashiwazaki, Niigata prefecture.
The company says the move comes in anticipation of “strong future demand” for its SCiB rechargeable lithium-ion batteries, which are used in various applications, including electric vehicles and energy storage systems.
“The facility will also serve as a production technology development center, positioning TISS to respond positively to future expansion of the lithium-ion rechargeable battery market,“ it said in a statement released.
It did not mention how many batteries it expects to produce on an annual basis, however, and no further details were shared in terms of how much demand it is expecting to see.
In February 2016, Toshiba announced it would place more emphasis on its energy and storage businesses, following an accounting scandal, which forced it into restructuring, and catastrophic losses of around US$6 billion in FY 2015.
Source PV Magazine