TOKYO -- As electric vehicles carve out a larger share of the automobile market, Japanese oil refiner Idemitsu Kosan is set to diversify into all-solid-state lithium-ion batteries, next-generation technology destined to power the new autos.
The company's planned merger with rival Showa Shell Sekiyu next April will likely generate cash for commercializing the batteries, which Idemitsu hopes will become a key part of its business. The new batteries are expected to roll out in the 2020s.
