Nissan Motor and NEC, an IT solutions and semiconductor manufacturing company, will invest around $1.1 billion to manufacture lithium-ion batteries for around 200,000 electric and hybrid cars annually beginning 2011, according to the Nikkei business daily.

Nissan, NEC and electrical and electronic device manufacturer NEC Tokin have a joint venture agreement in place to develop lithium-ion batteries from 2009, with an initial capacity to supply 13,000 units a year. The first of such batteries will be used in forklifts.

According to the news source, Nissan and NEC have decided to build a new factory in Japan in 2011 or later. The companies are planning to increase annual capacity to 65,000 units for use in Nissan's upcoming in-house hybrid and electric vehicles.

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