Nissan to sell its electric battery business to GSR Capital

Nissan Motor Co said on Tuesday it has agreed to sell its electric battery business to Chinese investment firm GSR Capital for an undisclosed sum.

The business to be sold to GSR includes battery plants in Tennessee, England and Japan, the Japanese automaker said in a statement.

Nissan will first take full control of the business – Automotive Energy Supply Corp – by buying the combined 49 percent minority stake held by NEC Corp and its subsidiary NEC Energy Devices. NEC Corp said it has approved the sale of its stake.

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