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Nissan to sell battery business to Chinese investors
Reuters | 2017/8/11

TOKYO  -- Nissan Motor Co. has agreed to sell its battery business to Chinese investment firm GSR Capital for an undisclosed amount.

The business to be sold includes factories in Smyrna, Tenn., and Sunderland, England, and part of Nissan's battery engineering operation in Oppama, Atsugi and Zama, Japan, Nissan said in a statement. 

First, Nissan will take full control of its battery subsidiary, Automotive Energy Supply Corp., by purchasing the minority stakes held by NEC Corp. and an NEC subsidiary.

NEC has approved the sale of its stake. 

Automotive Energy Supply Corp. produces lithium ion cells for the Nissan Leaf electric car. 

GSR Capital plans to sell batteries to multiple automakers and may move some of Automotive Energy Supply Corp.'s manufacturing to Hubei province in central China, according to a Bloomberg report in May. 

Nissan has been selling stakes in noncore businesses as it focuses on development of electric powertrains and self-driving vehicles.

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