GS Yuasa Corporation (Tokyo Stock Exchange: 6674; “GS Yuasa”) today announced price revisions for lead-acid traction batteries and related components*, as well as chargers for electric vehicles such as electric forklifts, automatic guided vehicles (AGVs), and electric wheelchairs. Said price revisions apply only to products sold in the Japanese market.

The prices of materials used in the manufacture of batteries and chargers, including steel and plastics, have continued to steeply increase over the past two years. In addition, the cost of electricity and gas used in production processes has also increased. GS Yuasa had already announced price revisions in response to these trends. However, recent global instability has caused further ongoing steep increases in raw materials prices, utility costs, and labor expenses, etc. GS Yuasa has been making efforts to further streamline production and reduce costs, among other efforts, but has determined that it would be difficult to maintain prices at present levels through such efforts alone. GS Yuasa has therefore decided to implement this latest round of price revisions.

GS Yuasa will continue to implement cost-cutting measures and make further efforts to provide products and services that satisfy customers and business partners.

1. Affected products
The following products sold in the Japanese market:
Lead-acid traction batteries and related components as well as chargers for electric vehicles such as electric forklifts, automatic guided vehicles (AGVs), and electric wheelchairs.

2. Details of price revision (price increase rate)
10% or more.

3. Timing of implementation
To be implemented for product orders placed from May 1, 2023, onward.

* Lead components, water-filling devices, water-filling plugs, cables, power plugs, maintenance products, etc.