Envision to buy controlling stake in Nissan's electric battery businessStaff Writer | August 3, 2018
Envision announced that it will acquire a controlling stake in Automotive Energy Supply Corporation (AESC), the electric battery operations and production facilities of Nissan Motor.
Acquisition Nissan will retain a minority equity stake
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. ■