Hitachi, Ltd. (NYSE: HIT; 6501.T) and Johnson Controls, Inc. (NYSE: JCI) today announced they have signed a memorandum of understanding to work together on lithium-ion batteries for electric vehicles and stationary applications.
The companies said they are exploring potential cooperation in R&D, procurement, production, marketing, sales and standardization.
"By combining our complementary strengths, Hitachi and Johnson Controls have a great opportunity help shape and lead the development of this emerging industry," said Alex Molinaroli, president for Johnson Controls Power Solutions.
Headquartered in Milwaukee, Wisconsin, Johnson Controls is a Fortune 100 company with strong maket positions in automotive interiors, building efficiency, and power solutions. Johnson Controls’ Power Solutions business is the world’s leading supplier of automotive batteries.
The Hitachi Group says in 2000, it was the first company to begin mass producing lithium-ion automotive batteries. Since then, it has produced over 1,200,000 cells, mainly for commercial hybrid buses and trucks, as well as for railway cars and other applications.
Hitachi has formed several major partnerships in the cleantech arean over the last few months. In September, they annonnced an agreement to develop smart grid initiatives with Panasonic (NYSE: PC). And in July, the company combined its efforts in the hydroelectric power business with those of Mitsubishi Electric Corporation (6503.T) and Mitsubishi Heavy Industries, Ltd. (7011.T).