Chevron to unload Cobasys

Oil and hybrids don't mix?

Cobasys, a company partially owned by Chevron, is working with investment bankers to "explore strategic alternatives" according to Reuters. In other words, it sounds as if Cobasys is preparing itself for sale.

Along with Chevron, Cobasys is owned by Energy Conversion Devices, an important developer of the NiMH batteries found in today's hybrid vehicles. But the future of hybrid batteries appears to be quickly moving towards lithium-ion batteries? Is that the reason for a possible sale? Perhaps Cobasys is trying to leverage its NiMH contracts before lithium overtakes nickel - a move which might disadvantage Cobasys?

Is the Chevron battery conspiracy over?