Japanese chemical companies Mitsubishi Chemical and Ube Industries have agreed to form a joint venture (JV) to develop lithium-ion electrolytes.
Both companies announced they would establish a JV by joint incorporation-type company split on 27 March.
The joint venture will be located in Japan, with assets of both companies related to the business, including manufacturing sites in Japan, transferred to the new organisation.
The companies have been jointly operating an electrolyte business in China through Changshu UM Battery Materials since January 2018. This company will now be a wholly owned subsidiary of the new joint venture company.
The announcement will expand on the previous tie-up by further enhancing its market share in and outside of Japan and increase product development capabilities while streamlining purchasing, production, and sales systems.
The parties will also integrate research and development and combine the intellectual assets and technical development capabilities possessed by the two companies.