Honda-GS Yuasa form Li-Ion battery joint venture

TOKYO -- GS Yuasa and Honda announced they have reached a basic agreement to establish a joint venture company which will manufacture, sell and conduct cooperative R&D for high-performance Li-Ion batteries to be used mainly in hybrid electric vehicles (HEV?s). The two companies aim to establish the new company sometime this coming spring with joint ownership consisting of 51% by GS Yuasa and 49% by Honda.