Nissan announces sale of its battery-manufacturing unit to Envision
Japanese automaker Nissan has revealed in a recent announcement that it is selling its battery-manufacturing unit Automotive Energy Supply Corporation (AESC) to sustainable energy operator Envision Group (Envision).
AESC is Nissan’s unit which manufactures lithium-ion battery cells for the electric vehicles produced by the automaker. Nissan has been trying to sell the unit for the last more than two years.
Prior to the sale of the AESC unit to Envision, Nissan was reportedly in talks with Panasonic in 2017. However, since those talks did not materialize, the automaker later confirmed that it has reached a deal with Chinese private investment fund GSR Capital. But, that deal also fell through a few weeks back, because GSR Capital failed to put together $1 billion to acquire AESC.
Finally, Nissan has now confirmed that Envision is acquiring AESC as well as Nissan’s battery development and production engineering operations located at Oppama, Zama, and Atsugi in Japan. In addition, Envision is also acquiring Nissan’s battery manufacturing operations owned by Nissan North America Inc. in Smyrna, Tennessee; and the battery manufacturing operations owned by Nissan Motor Manufacturing (UK) Ltd. in Sunderland, England.
In announcing that Nissan has secured “a definitive agreement” with Envision for the sale of its battery business, Nissan’s Chief Competitive Officer Yasuhiro Yamauchi said: “The transaction will enable Nissan to concentrate on developing and producing market-leading electric vehicles – in line with the goals set in our midterm plan Nissan M.O.V.E. to 2022.”
In a recent report, electric vehicles magazine Electrek has revealed that Tesla CEO Elon Musk has sent an email to employees, seeking their help in testing the company’s self-driving technology.
Ride-hailing service Ola has announced its plan to add 10,000 electric three wheelers in India over next 12 months.
According to reports, automaker Kia has efforts underway to launch its Niro EV -- a battery-powered version of the Kia Niro -- in Singapore in early 2019.
The potential sales of US electric vehicle manufacturer Tesla could be threatened in China, after a decision by the Chinese authorities to include electric vehicles (EVs) among the US-product imports on which additional tariffs are being levied.
As per recent reports, Porsche has started taking reservations with deposits for the production version of its Porsche Mission E concept car in Norway. The Mission E is scheduled for launch in 2019.
Against the backdrop of the fact that investors’ interest in the nascent electric-vehicle (EV) market is somewhat lacklustre, K.C.