A global partnership between GM and Ford Motor Co. will lead to the development of a lithium-ion battery technology that could potentially save the automaker hundreds of millions of dollars in fuel costs and help power the next generation of EVs.
The collaboration is being spearheaded by Mitsubishis new venture, NV35-A, which will produce the technology.
The two companies will build on their earlier cooperation with Tesla Motors, which developed an improved version of the NV35 battery.
NV35A’s new battery technology will be used in Nissan Leaf electric vehicles, which have a range of more than 100 miles on a single charge.
The new battery will be a major boost to Nissan’s EV business, which had already made a big splash with the Nissan Leaf EV.
The technology is a major breakthrough for Tesla and could help the company achieve its goal of becoming a mass-market electric vehicle.
The company has been pursuing the technology for several years, with plans to produce a version of it in 2019.
GM will manufacture the battery cells for NV35s for both Nissan and Tesla, according to a statement from the companies’ chief executive officer, Jim Lentz.
Tesla is also developing its own battery.
The partnership with Ford is expected to cost between $30 billion and $40 billion.
Ford and GM had previously announced a $1.6 billion investment in NV35 production.
The Ford deal with Mitsubisch was announced in June, and the Mitsubis new partnership will allow them to take a lead role in the battery development process.
Tesla has also announced its intention to produce its own NV35 batteries in 2018, and has been working on its own lithium-ionic battery technology.
While it is not clear when the next version of its battery will arrive, Lentz said that Mitsubisha would have a major impact on Tesla’s business.
“Our partnership with Mitsuhide will enable us to further enhance the Tesla electric vehicle platform with more efficient and scalable batteries that we can use in the future,” Lentz told CNBC.
The Nissan and Mitsubi plants are located in the northern part of Japan, and each employs about 10,000 people.
The lithium-ION battery technology is expected also to lead to a number of other products, such as the next-generation electric vehicle from Tesla, as well as to other technologies such as lithium-air batteries for trucks and battery packs for electric vehicles.
Ford, meanwhile, is developing the electric vehicle battery technology for its electric buses, which is expected later this year.
Ford has been a leader in the lithium-cell technology since the late 1990s, with its first vehicle, the Expedition, having a range in excess of 100 miles.
The first electric vehicles from Ford were produced in 2009, but they have since been discontinued.
Nissan’s current EV lineup is powered by a hybrid battery.
Ford recently announced that it has invested $100 million in Nissan to make electric vehicles that can be operated by humans.
Nissan has also partnered with Panasonic on electric vehicle manufacturing, which has produced batteries for the Nissan LEAF and Nissan LEAGUE electric vehicles in Japan.
Toyota is also expected to announce a significant investment in its electric vehicle research division later this month.
Toyota’s investment in Tesla will likely mean a substantial increase in the company’s efforts to commercialize its electric vehicles and to provide them to consumers.
Nissan will be the main manufacturer of EVs for the next five years, and Toyota is expected make more EVs than any other car maker in the world.