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| Nissan acquires a stake in Japan Automotive Energy Corp |
Last month, Nissan announced a definitive agreement to acquire a stake in Auto Energy Japan, which makes lithium-ion battery packs for cars, after completing regulatory paperwork and obtaining the necessary permits and approvals.
Nissan will acquire all of the common shares of Vehicle Energy Japan owned by INCJ Limited and subscribe to the common shares issued by Vehicle Energy Japan.
Upon closing of the transaction, Vehicle Energy Japan will become an incorporated subsidiary of Nissan and will own shares of two existing shareholders: Maxwell, Ltd. and Hitachi Astimo Co., Ltd.
Vehicle Energy Japan operates an integrated production system that ranges from cell and package manufacturing to advanced battery management system technologies. It also develops, manufactures and sells lithium-ion batteries, battery modules and battery management systems for hybrid vehicles, which will be expanded in the future.
Nissan Vision 2030 is the company's long-term vision to create significant mobility value by focusing on electricity and community empowerment in its business strategy.
As a major supplier to Nissan, Vehicle Energy Japan will play an important role in its electrification strategy as part of its vision. This investment will allow Nissan to secure a stable battery supplier and contribute to the development of next-generation batteries that are competitive in terms of performance and cost.
In return, Vehicle Energy Japan will provide Nissan and other customers with a steady supply of batteries, with continued support from shareholders Maxell, Hitachi Astemo and Nissan.