Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
October 18, 2010
Milwaukee, WI and Tokyo, Japan – Oct.18, 2010 – Hitachi, Ltd. (NYSE:HIT / TSE:6501) and Johnson Controls, Inc. (NYSE: JCI) today announced they have signed a memorandum of understanding to work together on several fronts in the field of advanced energy storage. The collaboration agreement between the two companies reflects their long-term vision and commitments to the global advanced energy storage space. The companies will study opportunities for collaboration in the fields of motive and non-motive advanced energy storage including Lithium-ion batteries, exploring potential cooperation across a wide span of initiatives including R&D, procurement, production, marketing, sales and standardization.
Yoshito Tsunoda, President & CEO of Hitachi's Battery Systems Company said, "The introduction of efficient energy storage is anticipated in various fields in society for sustainable growth of the global economy. Hitachi is focusing its resources on the Social Innovation Business and related key devices, including advanced battery systems." He also commented, "I strongly believe the two companies will succeed in providing advanced, competitive batteries and related services through strong and fruitful collaboration."
In 2000, the Hitachi Group became first in the world to begin mass producing safe, high-performance, long-lasting lithium-ion automotive batteries. Since then, it has produced over 1,200,000 cells*, mainly for commercial hybrid buses and trucks, as well as for railway cars and other applications. The lithium-ion batteries being rolled out will serve to further expand the range of applications. Hitachi considers lithium-ion batteries a key component for social infrastructure, such as railways, construction equipment, and power storage devices, which is the focus of Hitachi's Social Innovation Business. Hitachi will provide customers with optimal solutions in the form of battery systems that also incorporate control devices.
"To truly build a successful advanced energy storage industry, it's going to require significant ongoing efforts across the entire spectrum of the business, including everything from research and development through commercialization capabilities." said Alex Molinaroli, President for Johnson Controls Power Solutions. "By combining our complementary strengths, Hitachi and Johnson Controls have a great opportunity help shape and lead the development of this emerging industry."
Headquartered in Milwaukee, Wisconsin, Johnson Controls is a Fortune 100 company with leadership positions in automotive interiors, building efficiency, and power solutions. Johnson Controls' Power Solutions business is the world's leading supplier of automotive batteries.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Johnson Controls is a global diversified technology and industrial leader serving customers in over 150 countries. Our 130,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.
Johnson Controls Power Solutions is the global leader in lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles. Our 30 plants supply more than one third of the world's lead-acid batteries to major automakers and aftermarket retailers. Through our innovations we are building the advanced battery industry for hybrid and electric vehicles. Our commitment to sustainability is evidenced by our world-class technology, manufacturing and recycling capabilities.
