Court orders Samsung Securities to compensate investors for half the damages in 2018 dividend blunder
Nissan and AESC to build $456 million EV battery plant in Japan
Envision AESC and Nissan will build a second car battery factory in two months, set to rise in Ibaraki Prefecture, with an initial investment of $456 million and an annual production capacity of six gigawatt-hours in 2023.
The plan, to be announced Wednesday, includes spending as much as ¥100 billion and boosting output to 18 gigawatt-hours after about five years, or roughly enough for 163,000 Nissan Leaf electric vehicles.
Last month, Nissan and Envision AESC unveiled plans to build a $1.4 billion EV-manufacturing hub in the UK.
Nissan still owns 20 percent of AESC after it sold a majority stake in the EV battery business to Shanghai-based Envision Group.
Envision AESC is a battery supplier for Leaf vehicles for over 10 years.
Nissan CEO Makoto Uchida described the UK project as the start of their electrification strategy.
Nissan's rollout of a new EV called Ariya pushed back to the end of this year from an originally planned mid-2021 rollout.