• Envision AESC could end up doubling investment in Ibaraki project
• Move comes after similar battery plant project in UK unveiled
Nissan Motor Co’s Chinese battery partner – Envision AESC – announced on Wednesday that it will be spending 50 billion yen ($460 million) on building a new battery plant in Japan’s Ibaraki prefecture, north of Tokyo.
Over the long term, Envision could end up investing over 100 billion yen in the plant, which will begin mass production by 2024, the company said.
Also on AF: Shares of Vodafone’s India Arm in Freefall
Last month, Envision also submitted plans for a huge $625m car battery factory in the UK.
The huge 9GWh-capacity Sunderland ‘gigafactory’ will create an electric vehicle hub supporting the next generation of EV models.
Construction is due to begin in 2022, with the aim of starting battery production in 2024 – with the new scaled-up plant set to produce batteries to power more than 100,000 electric vehicles a year.
- Reuters
Read more:
Nissan takes EV transformation to Europe with UK battery gigafactory plan
Nissan forced to park new EV model launch over chip shortage
