Shanghai-based energy group Envision has agreed a deal to become the majority owner of Nissan’s international lithium-ion batteries business.
The definitive agreement with Envision comes just two months after Nissan’s proposed sale of the business to Chinese private equity firm GSR Capital fell through.
Nissan has called off the sale of its batteries business to Chinese private equity firm GSR Capital, saying the buyer failed to raise the cash required.
A number of Chinese firms including lithium manufacturer Zhejiang Unifull Industrial Fibreand lead-acid battery maker Camel had said they would join GSR in the reported $1 billion acquisition of Nissan subsidiary Automotive Energy Supply Corp and manufacturing operations in Japan, the UK and US.
Chinese private capital firm GSR Capital is ramping up its ambitions to become a key player in European EV battery production with plans for a manufacturing plant in Sweden.
GSR is to build the battery facility at Trollhättan, 75km north of Gothenburg, on land adjacent to Swedish electric vehicle producer NEVS— in which GSR will also invest $500 million.
Turkish technology giant Zorlu has signed a partnership deal with Chinese private capital firm GSR Capital that paves the way to building a 25GW capacity battery manufacturing plant in Turkey for electric vehicles and energy storage systems.
Zorlu will invest a total $4.5 billion in the project by 2023 – the year in which the plant is to be commissioned.
Nissan has sold its battery business to GSR Capital, a Chinese private equity firm.
Nissan said it will first take full control of the Automotive Energy Supply Corporation (AESC), by acquiring the rest of 49% shares from NEC, to pave the way for the GSR deal.
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