Nis­san to sell bat­tery busi­ness for US$1b

New Straits Times - - Business -

Nis­san Mo­tor Co is sell­ing its bat­tery busi­ness to Chi­nese pri­vate eq­uity firm GSR Cap­i­tal for about US$1 bil­lion (RM4.288 bil­lion) as the Ja­panese car­maker seeks ways to im­prove com­pet­i­tive­ness of its Leaf elec­tric cars while rein­ing in costs. The deal cov­ers Nis­san’s bat­tery sub­sidiary Au­to­mo­tive En­ergy Sup­ply Corp as well as man­u­fac­tur­ing op­er­a­tions in Ja­pan, the United States and United King­dom, said Nis­san in a state­ment on Tues­day, which didn’t dis­close fi­nan­cial terms.

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