GS Yuasa Shares Fall as More Lithium Ion Batteries Overheat

Bloomberg reported that the Japanese manufacturer of the lithium ion batteries that grounded all Boeing Dreamliner planes, GS Yuasa Corp, has suffered a 17% fall in Tokyo trading as Mitsubishi Motors Corp cars reported more lithium-ion problems.

As quoted in the market news:

The incident occurs two months after a battery fire on a Japan Airlines Co. (9201) flight and the emergency landing of an All Nippon Airways Co. (9202) plane caused the grounding of all Boeing 787 Dreamliners globally from Jan. 16. A lithium-ion battery caught fire while being tested at a Mitsubishi Motors (7211) factory in Japan on March 18, while another melted in a separate incident last week, Mitsubishi said yesterday.

Click here to read the full Bloomberg report.