More than 200 billion yen ($1.8 billion) will be jointly invested by the Japanese car maker Nissan Motor and a Chinese-owned battery maker for building new battery plants for electric vehicles in Japan as well as in eth United Kingdom, said a report published by Nikkei.
According to the report, batteries will start to roll out from the two new plants to be set u[p by the Japanese automaker as early as and the car maker has set a target of achieving a total capacity which would be sufficient to power at least 700,000 electric vehicles every year.
There is growing competition to invest in key components for electric vehicles with the global auto industry tracing to shift to making electrified vehicles instead of the conventional fossil fuel powered ones.
The battery plants will be operated by the Chinese firm Envision AESC Group in which a 20 per cent stake is held by Nissan. The Chinese currently makes batteries that are sufficient to power 200,000 electric vehicles. The total batteries that will be churned out of the bank will all be for the Renault-Nissan-Mitsubishi alliance.
China’s Envision is the seventh largest producer and supplier of batteries for electric vehicles. Nissan plans to increase the production of electric vehicle powering batteries from two new plants in Japan and the UK – enough to power to about 900,000 electric vehicles a year. Envision will also make some investment for the plants. Nissan is considering joint investments and using subsidies from the Japanese and UK governments to help finance the project.
Currently, about 180,000 electric cars are sole every year by Nissan and aims to increase that number to more than 1 million cars by the end of 2023.
There have also been reports of Nissan attempting to set up partnerships with other leading battery manufacturers, including China's Contemporary Amperex Technology, or CATL, and South Korea's LG Chem for setting up new factories for making electric car batteries.
There is a race among global; auto companies for ensuring a steady supply to batteries for the electric cars they aim to manufacture and are hence ramping up their battery supply chain.
A joint venture with Panasonic for making batteries was set up by 2020, Toyota Motor in 2020 which also forging a partnership with CATL. Construction of six battery plants in Europe by 2030 is planned by Germany’s Volkswagen. Ford Motor Company and South Korea's SK Innovation are set to create a partnership for battery making for electric cars while another United States based auto major General Motors has set up a partnership with LG Chem to building battery making plants in the US.
(Source:www.asia.nikkei.com)
According to the report, batteries will start to roll out from the two new plants to be set u[p by the Japanese automaker as early as and the car maker has set a target of achieving a total capacity which would be sufficient to power at least 700,000 electric vehicles every year.
There is growing competition to invest in key components for electric vehicles with the global auto industry tracing to shift to making electrified vehicles instead of the conventional fossil fuel powered ones.
The battery plants will be operated by the Chinese firm Envision AESC Group in which a 20 per cent stake is held by Nissan. The Chinese currently makes batteries that are sufficient to power 200,000 electric vehicles. The total batteries that will be churned out of the bank will all be for the Renault-Nissan-Mitsubishi alliance.
China’s Envision is the seventh largest producer and supplier of batteries for electric vehicles. Nissan plans to increase the production of electric vehicle powering batteries from two new plants in Japan and the UK – enough to power to about 900,000 electric vehicles a year. Envision will also make some investment for the plants. Nissan is considering joint investments and using subsidies from the Japanese and UK governments to help finance the project.
Currently, about 180,000 electric cars are sole every year by Nissan and aims to increase that number to more than 1 million cars by the end of 2023.
There have also been reports of Nissan attempting to set up partnerships with other leading battery manufacturers, including China's Contemporary Amperex Technology, or CATL, and South Korea's LG Chem for setting up new factories for making electric car batteries.
There is a race among global; auto companies for ensuring a steady supply to batteries for the electric cars they aim to manufacture and are hence ramping up their battery supply chain.
A joint venture with Panasonic for making batteries was set up by 2020, Toyota Motor in 2020 which also forging a partnership with CATL. Construction of six battery plants in Europe by 2030 is planned by Germany’s Volkswagen. Ford Motor Company and South Korea's SK Innovation are set to create a partnership for battery making for electric cars while another United States based auto major General Motors has set up a partnership with LG Chem to building battery making plants in the US.
(Source:www.asia.nikkei.com)
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