Nissan to acquire automotive battery company Vehicle Energy Japan, Auto News, ET Auto

0
Nissan rival Honda Motor Co recently said it had formed a partnership with trading firm Hanwa Co to ensure a stable supply of essential metals used in batteries for electrified vehicles.

TOKYO (Reuters) – Japan’s Nissan Motor Co said on Wednesday it had agreed to acquire all of the ordinary shares of Vehicle Energy Japan Inc held by the lithium-ion battery maker’s largest shareholder.

Nissan added that after acquiring the shares held by Innovation Network Corporation of Japan (INCJ), a state-backed fund, Vehicle Energy Japan will become its consolidated subsidiary, in which it will hold shares alongside existing shareholders Maxell. Ltd and Hitachi Astemo. ltd.

Nissan did not provide any financial details of the deal.

Vehicle Energy Japan develops, manufactures and markets lithium-ion batteries for hybrid vehicles.

“The investment will enable Nissan to secure a stable battery supplier and contribute to the development of next-generation batteries with a competitive edge in performance and cost,” Nissan said in a statement.

A stable supply of battery materials is among the many challenges facing automakers around the world, as stricter environmental regulations accelerate the production and sales of cleaner electrified cars.

Nissan rival Honda Motor Co recently said it had formed a partnership with trading firm Hanwa Co to ensure a stable supply of essential metals used in batteries for electrified vehicles.

Read also :

The automaker also said it would stop taking orders for the vehicle currently sold in the domestic market on September 22. He did not say when he would resume ordering on the website.

Share.

Comments are closed.