Pihsiang of Taiwan and Potevio of China Tie Up in Li-ion Battery Biz

Taipei, Aug. 3, 2012 (CENS)--Pihsiang Machinery Manufacturing Co., Ltd. (PMMC), the largest maker of healthcare electric scooters in Taiwan and major player in the local electric vehicle (EV) industry, recently announced that its subsidiary Pihsiang Energy Technology Co., Ltd. (PHET) has signed a cooperation agreement with Potevio Group of China to set up in a year a lithium-ion battery joint venture in Shanghai, China.

PHET is a major manufacturer of LiFePO4 Li-ion cells in Taiwan. Initial investment in the joint venture, according to Vivian Wu and PMMC president, will be about NT$2 billion (US$66.7 million).

Potevio, battery-making subsidiary of Shanghai Posts & Telecommunications Co., Ltd., signed the agreement with Pihsiang on July 30. Wu said Potevio is a gigantic national enterprise with huge resources and sales network, with customers in telecom, public transportation, power tools, automotive fields.

PHET owns many patents in battery production, assembly and safety protection mechanisms that will help to cut cost, prolong battery life, and upgrade battery safety, Wu said, and that the Potevio group will produce battery cells and packs at an expanded facility in Shanghai, with monthly capacity of 3 million Ah.

The two parties aim to target China's battery market, especially EV battery, telecom equipment (base station), power storage (solar and wind power plants, big-scale UPS) applications.