The focus is on the joint development of electrical drive technology, power electronics and charging technology as well as the integration of those systems into Volvo C30 Electric vehicles.

ENGADGET: Volvo and Siemens team up to build better electric engines

The SunShot initiative focuses on bringing down costs by pursuing innovations in four particular areas, including solar cell technology, power electronics that optimize the performance of installations, improvements in manufacturing processes, and installation and system design.

FORBES: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy

The approach mentioned above needs innovations and inventions in core technology areas such as material sciences, electronics, fluid mechanics, power systems and the like.

FORBES: Why a new 'avatar' of innovation is necessary in emerging economies

Improved power efficiency has been addressed with, among other technology advances, new and improved phosphor mixtures and more efficient electronics.

ENGADGET: Panasonic unveils Infinite Black Ultra Panel plasmas for 2012 (eyes-on)