Nissan Confirms Sale Of Battery Business To Envision Group

Nissan announced that the sale of its battery business to Envision Group, announced in summer 2018, was completed.

The Chinese company was set to purchase 75% of the business, while Nissan was required to maintain 25% and will continue to use batteries (40 kWh and 62 kWh battery packs for the Nissan LEAF and Nissan e-NV200 models), produced by Envision Group. The official start of operation under Envision was scheduled for April 1, 2019.

The deal included:

• Nissan subsidiary Automotive Energy Supply Corporation (AESC)

• battery manufacturing operations in Smyrna, Tennessee, owned by Nissan North America Inc. (NNA)

• battery manufacturing operations in Sunderland, England, owned by Nissan Motor Manufacturing (UK) Ltd. (NMUK)

• Nissan’s Japanese battery development and production engineering operations located in Oppama, Atsugi and Zama

Marking the completion of the transaction, Nissan’s Chief Competitive Officer Yasuhiro Yamauchi said:

“The new company has the opportunity to grow as a battery company with increased competitiveness under Envision. Nissan will continue to work with the new company as an important supplier as we concentrate our energy on developing and producing market-leading electric vehicles.”