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Envision acquires controlling stake in Nissan's battery business
Envision, a digital energy company, says it will acquire a controlling stake in Automotive Energy Supply Corporation (AESC), the electric battery operations and production facilities of Nissan Motor.
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, a press release reads. Envision is a pioneer in the energy IoT and owns the intelligent IoT operating system, EnOS, which currently connects more than 50 million smart devices used for wind, solar, energy storage, charging networks, electric vehicles, and home energy management. In addition to promoting the research and development of AESC Li-ion batteries, Envision intends to integrate its IoT technology to make intelligent batteries and incorporate millions of electric vehicles into a future energy network that is both clean and intelligent. “AESC's lithium-ion batteries are among the most advanced, safe, and reliable in the industry. Their ability to power more than 340,000 Nissan electric vehicles without a single critical incident demonstrates AESC's excellence in technology, design, thermal management, and energy management. As a company inspired by technological innovation, we are delighted to work with Nissan and the AESC team to drive further evolution of this technology and the battery sector,” says Lei Zhang, Envision's Founder and CEO. Lei Zhang added, “From an energy perspective, electric vehicles are mobile intelligent power stations, and the growing number of electric vehicles will have a huge impact on the electricity grid. At the same time, customer anxiety related to the range of electric batteries and charge time is limiting the development of the sector. Envison's smart IoT technology will make both the batteries and the charging process more intelligent.” 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. "We are pleased to have secured a definitive agreement with Envision, a leading global company in the field of sustainable energy and IoT technology. The transaction will enable Nissan to concentrate on developing and producing market-leading electric vehicles - in line with the goals set in our midterm plan Nissan M.O.V.E. to 2022,” says Yasuhiro Yamauchi, Nissan's Chief Competitive Officer.
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