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ExxonMobil In Battery Joint Venture

Houston-based ExxonMobil Chemical affiliate TonenGeneral and Toray Industries said this morning tht the firms are in a global joint venture, to develop battery separator films for lithium ion batteries. Financial details of the joint venture were not disclosed, however, the companies said they will combine Toray's plastic film processing and polymer science capabilities with Tonen's existing, lithium ion battery separator film business and technology. The technology is applicable to both batteries in the electronics market, as well as for hybrid-electric and electric vehicles. The firms said that TonenGeneral and Toray Industries will both own 50 percent of the joint venture, which will be headquartered in Tokyo.