Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Nissan to set up EV battery plants in Japan, Britain - Nikkei

05/28/2021 | 06:36am EDT
FILE PHOTO: Beijing International Automotive Exhibition, or Auto China show

(Reuters) -Nissan Motor Co will partner with China-based battery maker Envision AESC group to build new battery plants for electric vehicles in Japan and United Kingdom and will invest over 200 billion yen ($1.82 billion), Nikkei reported https://s.nikkei.com/34qpSwG on Friday.

The Japanese automaker will start turning out batteries in two new plants as early as 2024, aiming for total capacity sufficient to power 700,000 EVs per year, the report said.

"Nissan will continue to accelerate electrification toward carbon neutrality, however we have no further plans to announce at this time," Nissan spokeswoman said.

Batteries are one of the costliest components of EVs as raw materials account for the largest part of the cost.

To save costs, the Japanese automaker's alliance partner Renault Chief Executive Luca de Meo said this month the two companies are in talks to collaborate more by using the same battery technology, and Gupta said they have agreed on the common specifications of batteries.

($1 = 109.8500 yen)

(Reporting by Sabahatjahan Contractor in Bengaluru, Eimi Yamamitsu in Tokyo;Editing by Vinay Dwivedi and Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NIKKEI 225 3.12% 28884.13 Real-time Quote.2.07%
RENAULT -2.46% 35.035 Real-time Quote.0.42%
Latest news "Economy & Forex"
07:00aPompano Beach Arts Music Series Welcomes Live Audiences ľ Allan Harris and Leesa Richards Take the Stage at Pompano Beach Cultural Center
SE
06:57aRELIANCE INDUSTRIESá : Indian shares close marginally higher; financials, Reliance offset vaccine cheer
RE
06:52aAer Lingus in talks for hundreds of millions of euros in extra liquidity
RE
06:49aReality check for Volkswagen in China after sluggish start for electric car series
RE
06:46aEven after Biden tax hike, U.S. firms would pay less than foreign rivals
RE
06:46aHow Reuters compared U.S. corporations' taxes with their foreign rivals
RE
06:45aU.S. lawmakers likely to press Powell on Fed's 'hawkish' turn
RE
06:43aS.Africa's Omnia posts surge in FY earnings, reinstates dividend
RE
06:43aGermany must confront China on human rights despite trade, says industry
RE
06:40aChina, allies seek probe into indigenous children's remains in Canada
RE
Latest news "Economy & Forex"