Nissan to sell electric battery operations to GSR Capital

Nissan has entered into a sale and purchase agreement with GSR Capital for the sale of its electric battery operations and production facilities.

The agreement covers its battery subsidiary, Automotive Energy Supply Corporation and its manufacturing operations in Smyrna, Tennesse and in Sunderland.

Assets sold to GSR will also include part of Nissan’s Japanese battery development and production engineering operations located in Oppama, Atsugi and Zama.

Hiroto Saikawa, president and chief executive officer of Nissan, said: “This is a win-win for AESC and Nissan. It enables AESC to utilize GSR’s wide networks and proactive investment to expand its customer base and further increase its competitiveness.

“In turn, this will further enhance Nissan’s EV competitiveness. AESC will remain a very important partner for Nissan as we deepen our focus on designing and producing market-leading electric vehicles.”

The workforce at all facilities covered by the deal, including the production plants at Zama, Sunderland and Smyrna, will continue to be employed. The headquarters and development centres of the business will remain in Japan.