According to trend reports, battery powered cars are expected to grow exponentially in the coming years, especially in China, where government regulations will make going electric mandatory. And seizing this opportunity for a profit, Nissan partner NEC have recently sold their joint-venture to GSR Capital, a private equity firm based in China.

For over a year Nissan has been trying to offload its majority 51per cent stake in Automotive Energy Supply Corporation [AESC ] and market  experts say the deal could add US$1 billion to Nissan’s kitty. AESC manufactures cells, modules, and battery packs for a long list of vehicles, including electric cars, hybrids, plug-in hybrids, and hydrogen-powered models. AESC also makes the battery pack that powers the current Nissan Leaf and the zero-emissions variant of Renault’s Kangoo van.

“We plan to further invest in research and development, expand existing production in the United States, the United Kingdom, and Japan, and also establish new facilities in China and in Europe, enabling us to better serve customers around the world,” said Sonny Wu, the chairman of GSR Capital.

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