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Japanese firms Troy Industries and Mitsubishi Rayon have been reported to be working with Honda and Nissan to mass produce carbon fiber for car in effort to make vehicles 40 percent lighter and more fuel-efficient by mid-2010.

According to Japan’s Nikkei business daily, the firms will team up and will be led by the government which will provide 2 billion yen ($18.53 million) in funding over five years. Spokeswomen at both Honda and Nissan denied the reports that they were working with Toray and others to mass produce carbon fiber but said they are studying numerous ways to reduce vehicle weight.

Toray currently supplies Nissan with carbon fiber for use on the Nissan GT-R, Nissan 350Z and the Infiniti G35 and G37.

Nikkei daily says that the use of carbon fiber will reduce fuel-consumption and CO2 emissions by 30 percent.

Source: Reuters (via AutoBlog )

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