Business Today

NISSAN CANCELS ELECTRIC CAR BATTERY UNIT SALE

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Nissan Motor has cancelled a potential $1 billion sale of its electric car battery unit to China’s GSR Capital. Japan’s second-biggest automaker said the Chinese investment firm lacked the funds to make the purchase. The deal could not be closed by the June 29 deadline, it said, ending a process that had faced several delays since its announceme­nt almost a year ago.

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