Nissan may be getting out of the battery business

Nissan may be getting out of the battery business

0 comments 📅23 June 2017, 06:45

Without considering the success of its Leaf electric vehicle, it looks like Nissan is close to getting out of the role of building batteries, as Bloomberg reports. Automotive Energy Supply Corporation (AESC) began as a collaborative venture between Nissan and Japanese information technology company NEC, with Nissan owning a 51 percent pole. AESC provides the lithium-ion batteries for the Nissan Leaf and e-NV200, as well as some Renault vehicles. Now it appears that Nissan is preparing to stock its share of AESC to Chinese venture capital firm GSR Capital, with Bloomberg citing sources “with proficiency of the matter.”

It’s no big surprise, but it is a big deal, financially speaking, at around $988 million according to the Nikkei Asian Evaluate. GSR could move some of AESC’s manufacturing to its home province of Hubei, where it would be happier positioned to take advantage of China’s green-vehicle initiatives and growing EV sell. Nissan is also in talks to sell its US and UK manufacturing facilities to GSR.

As for Nissan, it’s possible it drive still source some batteries from AESC, but it might be cheaper to buy them from someone else. Some signs focus to LG Chem as a possible supplier for future electric vehicles, too. Nissan’s partner Renault has been working with LG Chem for years now. Exclusive EVs points to Nissan working with LG on the IDS Concept and friendly words from Carlos Ghosn as other indicators.

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