Nissan Sells its EV Battery Company to Energy Giant Envision

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【Summary】Nissan announces it will sell its battery company, Automotive Energy Supply Corporation, to Chinese Energy company, Envision.

Mia Bevacqua    Aug 12, 2018 12:00 PM PT
Nissan Sells its EV Battery Company to Energy Giant Envision

Automotive Energy Supply Corporation (AESC) is a major producer of EV batteries. In 2007, the firm was established as a joint venture between Nissan and the NEC Corporation. Since then, AESC has become a forerunner in EV battery technology, building storage devices for 340,000 LEAF cars. With that type of resume under its belt, it comes as no surprise AESC will be scooped up by Chinese energy giant, Envision. 

Envision takes control of Nissan's battery company

Earlier this year, Nissan intended to sell AESC to a firm called GSR capital. But the exchange fell through when the buyer couldn't come up with the funds. This time around, the Japanese automaker has a deal to sell its battery business to Envision.

Although Envision is best-known for its wind turbine business, it has also owns the internet of things (IoT) operating system EnOS. More than 50 million smart devices, including EVs and their charging stations, are connected by the OS. Envision intends to combine its IoT system and new battery technology to merge EVs with a connected energy network. 

Lei Zhang, Envision's Founder and CEO, explained: "From an energy perspective, electric vehicles are mobile intelligent power stations, and the growing number of electric vehicles will have a huge impact on the electricity grid. At the same time, customer anxiety related to the range of electric batteries and charge time is limiting the development of the sector. 

Envision's smart IoT technology will make both the batteries and the charging process more intelligent. This will enable electric vehicles to be integrated into an energy eco-system, and facilitate the intelligent, dynamic balancing of energy usage and generation in a world powered by fragmented renewable energy systems."

Of the deal, Yasuhiro Yamauchi, Nissan's Chief Competitive Officer, said: The transaction will enable Nissan to concentrate on developing and producing market-leading electric vehicles."

The sale to Envision coincides with Nissan's M.O.V.E. to 2022, a plan which includes a goal of selling one-million electric vehicles. 

New and upgraded facilities for AESC

Envision intends to ramp up research and development at existing AESC facilities in Japan, the UK, and the US. Plus, the company plans to open a new location in China, to keep up with the rapidly expanding Chinese EV market. According to the company, the goal at all sites is to produce higher-density, long-range batteries. 

Sources: Envision and Bloomberg 

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