Headquartered in Stuttgart, Germany, the joint venture brings together expertise from Robert Bosch, GS Yuasa and Mitsubishi Corporation to form a new company, called Lithium Energy and Power. The aim is to bring the size and cost of batteries down in preparation for mass-market electric vehicle adoption from 2020.

Each company will bring specific expertise to the project. Bosch, a 50% stakeholder, is a specialist in battery packs and management systems, GS Yuasa adds its knowledge of lithium-ion cells, while Mitsubishi brings its global sales network into the partnership.

Dr. Volkmar Denner, who, as chairman of the board of management of Robert Bosch GmbH, is responsible for research and development, said: ‘In setting up this joint venture, we want to achieve nothing less than a giant leap forward in the development of battery technology. Our aim is to make lithium-ion batteries twice as efficient.’