Nissan Getting Out Of Battery Business

So Nissan may be officially getting out of the battery business. Although Nissan has had success from the Leaf electric vehicle, Nissan is reportedly getting out of the business of building batteries. Automotive Energy Supply Corporation originally started as a joint venture between Nissan and the Japanese technology company, NEC, with Nissan owning 51 percent stake in the company.

The company provides lithium-ion batteries for the Nissan Leaf as well as other vehicles. Bloomberg reports that Nissan is preparing to sell its share of AESC to Chinese venture capital firm GSR Capital. Nissan might still source some batteries from AESC but it’s also possible it may find a cheaper alternative.