For (Ti1−x V x )2Ni (x =0.05, 0.1, 0.15, 0.2 and 0.3) ribbons, synthesized by arc-melting and subsequent melt-spinning techniques, an icosahedral quasicrystalline phase was present, either in the amorphous matrix or together with the stable Ti2Ni-type phase. With increasing x values, the maximum discharge capacity of the alloy electrodes increased until reached 271.3mAh/g when x =0.3. The cycling capacity retention rates for these electrodes were approximately 80% after a preliminary test of 30 consecutive cycles of charging and discharging. Ti1.7V0.3Ni alloy electrode displayed the best high-rate discharge ability of 82.7% at the discharge current density of 240mA/g.