A new type of V2O5 which was synthesized by a reaction of metallic vanadium with hydrogen peroxide solution, takes a random layer lattice structure based on the a-b plane of orthorhombic V2O5. Electrochemical intercalation of Li into this two-dimensional compound was investigated in a LiClO4/propylene carbonate solution. Discharge and charge cycles carried out in the voltage range 2.0 to 4.3 V showed a high specific capacity of about 310 Ah/kg. The film fabricated on an ITO glass substrate by the spin-coating technique, using a water based solution of the new V2O5, exhibited electrochromism. The magnitude of optical density change at 380 nm between coloration and decoloration of the film of 8000 Angstrom thickness, is about 0.7.