Monday, March 24, 2008

Hitchi to re-enter automobile Engine Market

Japanese electronics giant Hitachi Ltd plans to resume production of automobile engine turbochargers by 2010 in partnership with group member Hitachi Metals Ltd, the Nikkei reported over the weekend, without citing sources.

Hitachi, which stopped taking new orders for turbochargers in 2006, has decided to get back into the field because of anticipated demand growth for vehicles equipped with fuel-efficient turbochargers as fuel economy regulations are toughened in Japan, Europe and the US, the business daily said.

Hitachi is targeting 1 trillion yen in sales in its automotive business in the year to March 2011 and aims to generate some 40 percent of sales from such environment-related parts as motors and rechargeable batteries used in hybrid cars.

(1 US dollar = 99.56 yen)

No comments:

Enter your email address:

Delivered by FeedBurner