Nissan Motor Co., Ltd. announced on Wednesday it has concluded negotiations with battery producer Vehicle Energy Japan Inc. and agreed to acquire its shares once all the necessary regulatory steps are completed.
"As a key supplier to Nissan, Vehicle Energy Japan will play a crucial role in its ongoing electrification strategy under the vision. The investment will allow Nissan to secure a stable battery supplier and contribute to the development of next-generation batteries with a competitive edge in terms of both performance and cost," Nissan said in a written statement.
The automobile company will acquire all of the shares that are currently owned by the Innovation Network Corporation of Japan (INCJ) Inc. and convert them into common shares issued by Vehicle Energy Japan. After that, Vehicle Energy Japan will officially be made Nissan's subsidiary.
