Chinese renewable energy company Envision Group will buy Nissan Motor Co's battery manufacturing business, according to media reports.
Envision would acquire Nissan's Automotive Energy Supply Corp and battery manufacturing operations in the US and the UK, according to a report from electric industry information provider GTM on Friday.
The deal value was not disclosed, but the Financial Times reported that Nissan had previously agreed to sell the business to Chinese private equity group GSR for $1 billion. Negotiations for that deal collapsed.
