Envision will acquire a controlling stake in Automotive Energy Supply Corporation, the electric battery operations and production facilities of Nissan.
Envision is a global digital energy technology company that owns intelligent IoT operating system, EnOS and is currently managing 100GW of energy assets globally. It has Integrated Sonnen, ChargePoint, AutoGrid, and Bazefield etc, and has built a comprehensive global energy IoT and smart city ecosystem.
Nissan will retain a minority equity stake in the post-transaction company. With this strategic acquisition and collaboration, the newly formed company aims to further drive the development of battery storage technology and the energy Internet of Things (“IoT”).
AESC’s lithium-ion batteries already power more than 340,000 Nissan LEAF vehicles, the best-selling electric vehicle in the world, with over 7 billion kilometers driven without a single critical incident since its introduction in 2010.
According to the press release by the company, Envision intends to upgrade AESC’s existing production facilities in Japan, UK, and the US to enable the production of higher density, long-range electric batteries.
Envision also intends to open new production facilities in Wuxi, China, enabling AESC to serve the fast-growing Chinese market for electric vehicle batteries and stationary lithium-ion batteries.
This will enable AESC to continuously reduce the cost of lithium-ion batteries and provide a unique presence in all major automotive markets globally, differentiating itself from its key competitors.