Suzuki and EliiyPower have signed an investment and commercial alliance agreement with the aim of contributing to the achievement of a recycling-oriented and carbon-neutral society. Under this agreement, Suzuki will invest 10 billion yen in Eliiy Power, a Japanese company that sells lithium-ion batteries that can be used in both energy storage and mobility applications. In addition, Suzuki will subscribe to 15 billion yen in convertible bonds with stock acquisition rights issued by Eliiy Power. This is not the first time that Suzuki has invested in the battery company, as the Japanese brand invested 1 billion yen in Elii Power in 2012 to share technologies. However, with the agreement now reached, Suzuki becomes the largest shareholder of the battery company with 21.59% of the shares, in order to enable the company to accelerate the electrification of mobility, create customer-oriented products and services, and contribute to a sustainable and carbon-neutral society through the use of renewable energies.
The Chinese government wants to put an end to the ‘price war’ in the automotive sector.
The price war among electric car brands in China, the largest automotive market in the world, has led Chinese authorities...
