Toshiba to build car battery plant

Toshiba Corp said yesterday it would build a new factory to boost production of advanced rechargeable batteries that can be used in hybrid cars and electric vehicles.

The plant is to begin production in late 2010 and will increase Toshiba's manufacturing capacity to several million cells per month from its current level of 150,000 cells, according to a spokeswoman.

The company will invest "several tens of billions of yen" in the plant, she said. The Nikkei business newspaper reported the cost would be between 20 billion yen and 30 billion yen ($220 million-$330 million).