GSR Capital to take ownership of Nissan’s battery operations.

Nissan Motor has entered into a definitive sale and purchase agreement with GSR Capital (GSR), a private investment fund, for the sale of Nissan’s electric battery operations and production facilities.

The sale and purchase agreement covers Nissan’s battery subsidiary, Automotive Energy Supply Corporation (AESC), as well as battery manufacturing operations in Smyrna, Tennessee and in Sunderland, England.

Assets sold to GSR will also include part of Nissan’s Japanese battery development and production engineering operations.

“This is a win-win for AESC and Nissan,” said Hiroto Saikawa, President and Chief Executive Officer of Nissan Motor. “This will further enhance Nissan’s EV competitiveness. AESC will remain a very important partner for Nissan as we deepen our focus on designing and producing market-leading electric vehicles.”