Taiwan: Joint Venture for Electrolyte Solution Mitsui Captures Share in Chinese E-Mobility Market
Formosa Mitsui Advanced Chemicals, a joint venture of Mitsui Chemicals and Formosa Plastics Corporation, announced startup of its electrolyte solution production facilities for lithium-ion batteries.
Taipei/Taiwan — Demand for lithium ion batteries has expanded in line with growth of laptop, smartphone, and tablet device markets. In the future, greater market growth is forecasted for the mobility market with the surge in demand for environment-friendly hybrid and electric vehicles especially in China. To meet the needs of an expanding Chinese market,the joint venture plans to establish high-quality production and supply systems for electrolyte solutions. In the Company’s midterm business plan, the mobility domain is targeted as a growth driver. Mitsui Chemicals eyes lithium-ion battery-use electrolytic solutions and is actively pursuing development in this area.