Research and development will begin in 2014, depending on approval by antitrust authorities, investigating how to improve the energy content of lithium ion battery cells.

By doing so, the companies aim to have a next generation unit which will be easier to integrate into vehicles, while offering a longer electric range and reduced weight.

The joint venture will be based in Stuttgart. Bosch will hold a 50% stake, while GS Yuasa and Mitsubishi will have 25% each, and this will be represented on both the board of management and supervisory board.

Bosch will add its knowledge of large scale production runs, quality management and integrating batteries into vehicles. GS Yuasa brings expertise in materials and electrochemistry, gained from its development of automotive and non-automotive batteries. Mitsubishi adds its worldwide marketing network and business knowledge to the trio, particularly of global value chains.