"Nissan firmly believes the ultimate solution for sustainable mobility lies in zero emission. Electric vehicles will be a key product breakthrough our industry can deliver," he noted, adding that Nissan is ready to supply the batteries to any company interested in the technology. The venture, Automotive Energy Supply Corp. (AESC), which was set up last year, plans to build its first battery production line at a Nissan facility in Kanagawa Prefecture southwest of Tokyo. Owned 51% by Nissan and 49% by the NEC group, it will invest $115 million (12 billion yen) over three years in the aim of producing 65,000 lithium-ion batteries per year by 2009. NEC Tokin will invest an additional $105 million (11 billion yen) to build a new assembly line at one of NEC's facilities in Kanagawa Prefecture to produce components for the batteries, which will be installed next year in forklifts in Japan.