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Nissan cancels sale of its Battery manufacturing business to GSR Capital

; Date: July 2, 2018

Tags: Nissan »»»» LG Chem »»»» Electric Car Batteries

Since launching the LEAF, Nissan's battery packs came from its subsidiary Automotive Energy Supply Corporation (AESC). In August 2017, Nissan announced it would sell that subsidiary to GSR Capital. On July 1, 2018, Nissan announced it was canceling the sale. GSR Capital, a Chinese investment company, was unable to raise the funds by the June 29 deadline. Clearly the batteries made by AESC were not desirable enough to warrant an investment. According to Reuters, Nissan sought to sell its battery business as part of a plan to get lower-cost batteries from other manufacturers, such as LG Chem who supplies sister company Renault. Nissan has talked with other battery manufacturers about purchasing the AESC subsidiary. Panasonic is quoted by Reuters saying they're not interested in buying the manufacturing equipment used by other makers, and that Nissan's formulation is not all that interesting.

(www.reuters.com) https://www.reuters.com/article/us-nissan-battery/nissan-scraps-potential-1-billion-sale-of-battery-unit-to-chinas-gsr-idUSKBN1JS03P

(www.reuters.com) https://www.reuters.com/article/us-nissan-battery-idUSKBN1AO0K1

(asia.nikkei.com) https://asia.nikkei.com/Business/Business-Deals/Nissan-cancels-900m-sale-of-battery-subsidiary-to-China-s-GSR

About the Author(s)

David Herron : David Herron is a writer and software engineer focusing on the wise use of technology. He is especially interested in clean energy technologies like solar power, wind power, and electric cars. David worked for nearly 30 years in Silicon Valley on software ranging from electronic mail systems, to video streaming, to the Java programming language, and has published several books on Node.js programming and electric vehicles.
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