Taipei, May 15, 2008 (CENS)--Optimistic about business opportunities in the market for large-sized lithium batteries, Welldone Co., a Taiwanese supplier of battery energy solutions, has teamed up with government-funded Industrial Technology Research Institute (ITRI) to set up a joint venture Hi-Tech Energy Co., in a bid to venture into production of lithium battery, according to company sources.

ITRI will dispatch some engineers to Hi-Tech Energy to provide related technical support. The joint venture will specialize in making portable battery solutions and has attracted Japanese companies and Taiwan`s leading supplier of power supplies, Delta Electronics Inc., to buy stakes in it.

According to analytic reports issued by IEK (Industrial Economics & Knowledge Center), the global market prospects for large-sized lithium batteries are quite bright , with production value estimated at US$820 million in 2008, for a growth of 8.5% from a year earlier. Such batteries are mainly applied to electric cars and commercial vehicles.

With none of Taiwanese companies venturing into the market at present, ITRI has worked with Welldone to develop high-power batteries for electric bicycles and storage systems since 2004. Welldone`s chairman Chen Dun-zen said that his company is expected to become the foremost supplier of this kind in Taiwan, and establishment of Hi-Tech Energy means the cooperation effort between Welldone and ITRI has paid off.

ITRI officials also indicated that to keep away from throat-cutting price competition in the market for battery modules used in 3C (computer, consumer electronics and communications) products, ITRI has focused on development and research of large-sized lithium batteries, in hopes of helping the industry to upgrade production capability.

In fact, Hi-Tech Energy is seen as a benchmark of Taiwan`s industry of large-sized lithium battery, which is capable of developing related raw materials and modules in house independently.
(by Steve Chuang)