Nissan to sell its electric battery business to GSR Capital
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Nissan Motor Co said on Tuesday it has agreed to sell its electric battery business to Chinese investment firm GSR Capital for an undisclosed sum.
The business to be sold to GSR includes battery plants in Tennessee, England and Japan, the Japanese automaker said in a statement.
Nissan will first take full control of the business – Automotive Energy Supply Corp – by buying the combined 49 percent minority stake held by NEC Corp and its subsidiary NEC Energy Devices. NEC Corp said it has approved the sale of its stake.
Questions & Answers
Q.Which specific entity is Nissan selling to GSR Capital?
Which specific entity is Nissan selling to GSR Capital?
Nissan is selling its electric battery business, Automotive Energy Supply Corp (AESC), to GSR Capital. It will first acquire the remaining minority stakes from NEC Corp and its subsidiary to gain full ownership before the sale.
Q.Where are the battery plants located that are part of this sale?
Where are the battery plants located that are part of this sale?
The battery plants included in the sale to Chinese investment firm GSR Capital are situated in three different countries. These manufacturing facilities are located in Tennessee, England, and Japan.
Q.What is the role of NEC Corp in this transaction?
What is the role of NEC Corp in this transaction?
NEC Corp holds a combined 49 percent minority stake in Automotive Energy Supply Corp, Nissan's battery business. NEC Corp has approved the sale of its stake to Nissan, allowing Nissan to take full control before the onward sale.