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.”

The new battery company is scheduled to start operations on April 1, 2019.

Reference: Nissan to Sell Electric Battery Business to Envision Group
(2018/08/03 announcement)