Development Launched of EV-based Smart Grid System
MC, MMC, and MELCO Sign Subsidy Contract with NEDO
Mitsubishi Corporation (MC), Mitsubishi Motors Corporation (MMC) and Mitsubishi Electric Corporation (MELCO) have agreed to collaborate on a research project being undertaken by the New Energy and Industrial Technology Development Organization (NEDO). Acting as advisor to this project is the Tokyo Institute of Technology, which is aiming to develop Smart Grid systems that employ electric vehicles and the lithium-ion batteries used to power them.
MC, MMC and MELCO have worked on Smart Grid systems to utilize these batteries since last March. The battery business is expected to increase rapidly with the increasing proliferation of electric vehicles. The three partners applied to NEDO to take part in the research project and were accepted on August 24th. They then signed a subsidy contract under which NEDO will bear two-thirds (2/3) of the project's costs.
