Japan's largest automotive and electronics giants are poised to embark on a worldwide scramble for lithium - the material that could be required in bulk if the roads of the future are to be filled with electric cars.

Companies as diverse as Toyota and Panasonic could add mining or lithium-extraction operations to their portfolio of businesses as the technology that powers laptops and iPods is upgraded to drive the Chevrolet Volt, the Mitsubishi Miev and a dozen other electric cars that are on their drawing-boards.

The lithium-ion battery has recently emerged as a potentially critical stop-gap green technology as the motor industry gradually weans itself off the internal combustion engine. Although substantial advances have been made in the production of a commercially viable fuel cell vehicle, infrastructure issues - such as the lack of any network of hydrogen fuelling stations - mean it could be some decades before they enter the mainstream. Cars that can be plugged in and charged overnight, meanwhile, represent a more immediate development focus for the carmakers.

The impending rush to secure stable lithium supplies comes as large swaths of Japanese industry are suffering a crisis of confidence about their pipeline of raw materials. As a country that relies entirely on imports to feed its factories, companies now talk of building “upstream supply” in the form of investment in mines.

Panasonic, which stands to become the world's largest producer of lithium batteries if it completes its planned purchase of Sanyo, its local Osaka rival, has amassed a $10 billion (£6.2 billion) cash reserve for overseas acquisition.

A company spokesman said that while it had no concrete plans at the moment, purchasing an interest in a lithium production facility could “be thought of as one option”.

In addition to the emerging pursuit of lithium, Japanese trading companies have begun an energetic land-grab for other types of mines: bauxite, platinum and nickel are prime targets because of the huge demand from Japanese industry.

Stung by soaring prices earlier this year, motor companies have even begun to look at securing their own supplies of raw materials for steel production. Toyota Trading - an affiliate of the carmaker - has already bought part of a coking coal mine and admitted that further mine investments, including lithium, were a possibility.

Research by The Times suggests that at least ten leading Japanese companies have begun investigating ways of securing lithium supplies, or are mulling corporate alliances that would guarantee a degree of price stability. Some are considering outright purchases of existing lithium production facilities in Chile and Argentina, while others are looking at investing in planned lithium plants in China.

Global leaders in lithium-ion batteries, such as Sanyo and NEC Tokin, have unveiled improvements to the technology that have persuaded big carmakers, such as Nissan, to invest heavily in the development of next-generation electric cars.

Nissan's own electric car development team is aiming to design lithium batteries with three times the charge capacity of existing models, meaning that an electric vehicle could travel up to 500km on a full charge.

Times Recommends

• Tories’ green bank to revolutionise power policy
• UK car industry receives £2.6bn injection
• Pru chief turns down seat on board of bank