Envision to Acquire Controlling Stake in Nissan’s Electric Battery Business
Envision today announced that it will acquire a controlling stake in Automotive Energy Supply Corporation (AESC), the electric battery operations and production facilities of Nissan Motor Co., Ltd. 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 IoT.
Envision is a pioneer in the energy IoT and owns the world's leading 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. Envision is also a global leader in smart wind turbine technology.
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.
Lei Zhang, Envision's Founder and CEO, said: "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."
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.
“This will enable electric vehicles to be integrated into an energy eco-system, and facilitate the intelligent, dynamic balancing of energy usage and generation in a world powered by fragmented renewable energy systems,” concluded Zhang.
Yasuhiro Yamauchi, Nissan's Chief Competitive Officer, said: "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. We are confident that Envision will be a strong, long-term owner of the new company and that it will further grow as a battery company with increased competitiveness."