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Nissan to soon stop making its own electric car batteries

Nissan to soon stop making its own electric car batteries
Nikhil Puthran Nikhil Puthran Monday 08 August 2016, 14:32 PM

Japanese automaker Nissan is reportedly planning to stop manufacturing its own electric car batteries. The company has cited that it is indeed less expensive to buy batteries from an outside supplier rather than making one. Reports indicate that the company is in talks with Panasonic and other overseas companies including Chinese firms to sell its controlling stake in its car battery manufacturing venture.

 

It is believed that Nissan might sell its 51 per cent stake in Automotive Energy Supply Corporation (AESC), which makes lithium-ion batteries for electric vehicles. The AESC is jointly owned by Nissan and NEC. The decision will help the Japanese automaker procure batteries for its Leaf model which is a popular choice in the electric vehicle segment overseas.

NEC and Panasonic have declined to reveal more details. As for now, Panasonic has been supplying electric batteries for Tesla Motors and the company plans to boost its total vehicle production to about 5,00,000 units by 2018. Given the growing popularity of electric cars, it is only a matter of time when other automakers will consider alternative plans to procure electric batteries.

 

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