Nissan Completes Sale Of Battery Business To Envision Group
Nissan Motor Co., Ltd. has completed the previously announced sale of its electric battery operations and production facilities to Envision Group, a world-leading digital energy company.
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.
Under the deal, Envision has completed the acquisition of Nissan subsidiary Automotive Energy Supply Corporation and battery manufacturing operations in Smyrna, Tennessee, owned by Nissan North America Inc. (NNA), and in Sunderland, England, owned by Nissan Motor Manufacturing (UK) Ltd. (NMUK).
Envision has also acquired Nissan’s Japanese battery development and production engineering operations located in Oppama, Atsugi and Zama.
The workforce at all facilities covered by the deal will continue to be employed. The headquarters and development centers of the business will remain in Japan.
The new battery company is scheduled to start operations on April 1, 2019.