Johnson Controls (NYSE:JCI) and Toshiba (OTCPK:TOSBF, OTCPK:TOSYY) are planning to work together in developing and manufacturing lithium ion batteries, Argus reports, amid a growing shift to electric vehicles from vehicles running on fossil fuels.
Toshiba and JCI’s power solutions unit will cooperate in building a lithium ion battery business, using existing lead-acid battery technology as part of dual-battery systems, at JCI’s plant in Michigan, according to the report.
The companies will aim to achieve higher efficiency, less complexity and lower costs in combining their developed technologies.
