Envision to buy controlling stake in Nissan's electric battery business
Nissan will retain a minority equity stake in the post-transaction company. With this strategic acquisition and collaboration, the newly formed company aims to further drive the development of battery storage technology and the energy Internet of Things (IoT).
Envision is a pioneer in the energy IoT and owns the world's leading intelligent IoT operating system, EnOS™, which currently connects more than 50 million smart devices used for wind, solar, energy storage, charging networks, electric vehicles, and home energy management.
Envision is also a global leader in smart wind turbine technology. In addition to promoting the research and development of AESC Li-ion batteries, Envision intends to integrate its IoT technology to make intelligent batteries and incorporate millions of electric vehicles into a future energy network that is both clean and intelligent.
AESC's lithium-ion batteries already power more than 340,000 Nissan LEAF vehicles, the best-selling electric vehicle in the world, with over 7 billion kilometers driven without a single critical incident since its introduction in 2010.
Envision intends to upgrade AESC's existing production facilities in Japan, UK, and the U.S. to enable the production of higher density, long-range electric batteries.
Envision also intends to open new production facilities in Wuxi, China, enabling AESC to serve the fast-growing Chinese market for electric vehicle batteries and stationary lithium-ion batteries.
This will enable AESC to continuously reduce the cost of lithium-ion batteries and provide a unique presence in all major automotive markets globally, differentiating itself from its key competitors. ■