Is Sanyo metamorphosing from electronics company to a Renewable Energy Company

Sanyo plans to invest more than  70% of its total investment over the next  3 years in its renewable energy and energy storage segments.Sanyo has never been as successful in the hyper competitive electronics market as other Japanese companies like Sony or Sharp.However its lithium batteries and solar panels possess cutting edge technology.Its solar panels with proprietary HIT technology rival the best  in terms of efficiency and quality.It lithium ion batteries have also a very large market-share .With new management after its takeover by Panasonic,it seems Sanyo is focusing on its core competitive strengths .

Sanyo eyes $2.13 billion for rechargeable batteries, solar cells – Reuters

Sanyo Electric Co Ltd plans to invest around 200 billion yen ($2.13 billion) on rechargeable batteries and solar cells in the next three year to focus on the energy and environment businesses, the Nikkei said on Monday.

The investment is part of the company’s three-year business plan through fiscal 2012/13 ending March 31, 2013, to be released on May 11, the business daily said without citing sources.

Sanyo officials were not immediately available for comment.

Sanyo plans to invest around 290 billion yen over the three-year period, with 70 percent or about 200 billion yen accounting for rechargeable battery and solar cell operations, up from 190 billion yen forecast for the previous three-year plan to fiscal 2010/11, Nikkei said.

Sanyo plans to launch production of lithium ion batteries for plug-in hybrids and electric vehicles by fiscal 2012/13, while aiming to boost production capacities for solar cells at domestic plants, eyeing to increase sales of home-use solar panels, the daily said.