Toyota secures lithium deal for hybrid car push - lithium ion batteries for sale

SYDNEY/TOKYO, Reuters-
Demand for lithium is expected to increase as automakers seek expensive but more efficient lithium
Ion batteries that power hybrid and electric vehicles.
Toyota uses nickelmetal-
At present, the hydrogen battery of the Prius hybrid has been decided to use lithium-
Ion battery for future plugin models.
Yoshitabtabei, chief analyst at Kazaka Securities, said: "When it comes to mass production of hybrid cars, the main obstacle is the shortage of batteries . ".
"In order to ensure stable production, Toyota is taking its own steps to obtain the required materials.
Toyota Tsusho, a trading company, 22%-
Toyota Motor said it will jointly develop a new lithium project in Argentina with the owner and operator of the project Australia
Listed Orocobre Co. , Ltd.
Shares in Orocobre rose 47% to a record $2.
This is the largest transaction volume ever.
Stocks have risen nearly 10-
Doubled in the past 12 months, closing up 32% at $1. 85.
Toyota tsu shares rose 6%, Toyota shares fell 0.
9%, roughly the same as other car stocks.
The Salar de Olaroz project in Argentina is estimated to cost about 80-
Paul Ryan, an Orocobre spokesman, said that the final figure of $100 million will be determined after the feasibility studySeptember.
"As demand for eco-friendly electric vehicles continues to grow, Toyota will have the opportunity to be the cornerstone of its customers," Orocobre said in a statement . ".
The gradual change in DEMANDOrocobre, which went public in December 2007, currently has a market value of nearly $0. 15 billion.
General Manager Richard Sevilla said that before the global financial crisis, the lithium market had been growing at a compound annual growth rate of about 7% between 1997 and 2007, mainly due to the demand of consumer electronics manufacturers.
"This growth will continue, but beyond that, our demand has changed gradually, with the new application being large-format batteries for electric vehicles," Sevilla told Reuters . ". Houston-
James caraway, non.
The executive chairman and his family hold a 11% stake in Orocombre, while other board members have an additional 15-
20%, said Seville.
Toyota aims to double global gas production.
Electric hybrid vehicles reached 1 million vehicles in 2011 as it strives to stay ahead of the growing low-end market
Japanese economic news reported emissions cars this month.
In the event that the terms are finalized, Toyota Tsusho will acquire a 25% stake in the joint venture, while Orocobre will continue to have the remaining 75% of the project and will operate the joint venture.
Japanese government-
Japanese oil, gas and metals nationals (JOGMEC) are considering acquiring a 25% stake in Toyota's Tsuho as part of Japan's efforts to secure a stable source of rare metals, government officials said.
"Rare metals are not only high-
The technology industry, but for the Japanese manufacturing industry as a whole, "said kushi Kuwayama, deputy director of Japan's natural resources and energy agency.
"With other countries like China, investing in mining around the world, we want to be more active in supporting the private sector to secure a stable supply.
"(Supplementary Report by Mayumi Negishi;