The German government is not giving up on its plan to have one million e-cars on the roads by 2020. The trouble is that potential buyers are anything but enthusiastic about them.
Germany's Bosch will contribute the quality management and development of control systems, while GS Yuasa will be responsible for manufacturing and Mitsubishi for marketing. Bosch will hold a 50-percent stake in the venture, with the two Japanese companies each investing a 25 percent stake.
For Bosch it's the second foray into the future-oriented market of electric car batteries. It had a first go at it back in 2008 when it teamed up with Samsung SDI of South Korea. But the alliance broke up in September of last year as it became obvious that the partners' business plans did not match.
Source: Deutsche Welle