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Nissan's battery partner to spend over US$450 million on new plant in Japan

Nissan Motor Co's Chinese battery partner Envision AESC said on Wednesday it would spend 50 billion yen (US$460 million) to build a new battery plant in Japan's Ibaraki prefecture north of Tokyo.

Nissan's battery partner to spend over US$450 million on new plant in Japan

A cross-section of a completed battery for a Nissan Leaf car is seen inside the Envision battery manufacturing plant at Nissan's Sunderland factory, Britain, July 1, 2021. REUTERS/Phil Noble/File Photo

TOKYO: Nissan Motor Co's Chinese battery partner Envision AESC said on Wednesday it would spend 50 billion yen (US$460 million) to build a new battery plant in Japan's Ibaraki prefecture north of Tokyo.

Over the long term, Envision could invest over 100 billion yen in the plant, which would start mass production in 2024, the company said.

(US$1 = 109.0500 yen)

(Reporting by Makiko Yamazaki; Editing by Tom Hogue)

Source: Reuters

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