Japanese firm TDK is set to invest more than 100 billion yen ($841 million) to double production of thin film lithium-ion batteries, reports Nikkei Asian Review.
The company plans to boost the capacity of its plant in China’s Fujian Province, in the hope of reaching annual battery sales of 350 billion yen ($2,943million) in fiscal 2017, the report stated.
The money is part of a two-year programme by the company between 2015 and 2017.
The development follows a commitment of around 50 billion yen ($420million) in its lithium-ion battery business from 2011 to 2014.
