Nissan,NEC plan lithium ion battery venture-source

TOKYO, Apr 13 (Reuters) Nissan Motor Co. and NEC Corp. will set up a joint venture company to produce and develop lithium ion batteries to be used in hybrid and other electric vehicles, a source familiar with the matter said on Friday.

The two companies, which had said they were considering such a joint venture to challenge rivals Toyota Motor Corp. and Matsushita Electric Industrial Co., are scheduled to hold a joint news conference at 3 p.m. (0600 GMT), the source said.

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