08 Aug '17, 10am

Nissan to Sell EV Battery Business to GSR Capital

Nissan to Sell EV Battery Business to GSR Capital

Nissan Motor Co., Ltd. has entered into a definitive sale and purchase agreement with Chinese GSR Capital (GSR), a private investment fund, for the sale of Nissan’s EV battery operations and production facilities to GSR. The sale and purchase agreement covers Nissan’s battery subsidiary, Automotive Energy Supply Corporation (AESC), as well as battery manufacturing operations in Smyrna, Tennessee, owned by Nissan North America Inc. (NNA), and in Sunderland, England, owned by Nissan Motor Manufacturing (U.K.) Ltd. (NMUK). Assets sold to GSR will also include part of Nissan’s Japanese battery development and production engineering operations located in Oppama, Atsugi and Zama. The workforce at all facilities covered by the deal, including the production plants at Zama, Sunderland and Smyrna, will continue to be employed. The headquarters and development centers of the busines...

Full article: http://electriccarsreport.com/2017/08/nissan-sell-ev-batt...

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