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    HONG KONG (MarketWatch) -- Nissan Motor Co (JP:7201:JP:7201
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    JP:7201, , ) and NEC Corp. (JP:6701:JP:6701
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    JP:6701, , ) said Monday they will spend 12 billion yen ($115 million) over three years to make lithium-ion batteries in Japan for use in hybrid and electric vehicles. The joint venture Automotive Energy Supply Corp. will produce up to 13,000 units starting from fiscal 2009, and eventually grow to an annual output of up to 65,000 units, according to a joint statement by the companies. The manufacturing facility will be located in Kanagawa Prefecture. Nissan will hold a 51% stake in the venture while NEC and its subsidiary NEC Tokin Corp. will hold 49%.
 
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