Fuji Heavy to Sell Hybrid Batteries to General Motors
Heavy Industries Ltd. plans to supply hybrid batteries to General Motors Corp. by 2006 to benefit from its alliance with the world's biggest automaker, which is increasing production of environmentally friendly cars.
General Motors, which owns 21 percent of Fuji Heavy, will start selling gasoline-electric hybrid versions of its Chevrolet Silverado and GMC Sierra pickup trucks this year and has said it will be able to build 1 million hybrid cars and trucks annually by 2007. Fuji Heavy President Kyoji Takenaka said the company, which makes Subaru brand cars, is testing the new batteries to be used by General Motors.
Tokyo-based Fuji Heavy, which forecasts a rise in profit for the third consecutive year, needs to exploit its alliance with General Motors as it has too few models to compete with companies like Toyota Motor Corp. and Honda Motor Co., investors said.
``It would be a really good move for Fuji Heavy,'' said Norihito Kanai, who helps manage the equivalent of $2.5 billion at Meiji Dresdner Asset Management Co.
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