Earlier this month, Nissan announced it was in the final stages of sealing a deal to sell its entire EV battery business to Chinese investment firm GSR Capital. The sale includes battery plants in Tennessee, England, and Japan, with a preamble where the Japanese automaker has to buy up minority shares of Automotive Energy Supply Corp. from NEC Corp.
From there, it can sell off the business to GSR for a cool $1 billion — which isn’t a bad deal for the Chinese company. Nissan used around $1.4 billion in government funds building its U.S. factory in 2010, and the remaining plants weren’t exactly cheap to build. So why is Nissan selling them off?
For starters, the Leaf hasn’t been the sales leader the manufacturer hoped for. Even though global deliveries surpassed the 250,000-unit milestone in December 2016, Leaf sales don’t go beyond 50,000 units annually. By electric vehicle metrics, that’s still a win. However, the Tennessee factory is capable of producing 200,000 complete EV battery packs a year — well beyond the company’s current needs.
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- Dave M. On one hand Honda tends to make a strong, competitive product that should give you years of excellent service. On the other hand it's built on the bones of a GM product, who has a tendency to underbake their products until right before cancellation. NUMMI worked out well for GM; I wonder if this will work out well for Honda....
- RICHARD @mebgardner I have no issues with the way the car is configured. No offensive nannies.
- RICHARD @el_scotto above
- RICHARD @SPPP. It's the perfect use case. Most of my wife's driving is short trips around town. The car will get better MPG in that environment than interstate cruising.
- RICHARD The longest interstate trip I have been on so far is about 45 minutes. We live in Tennessee so that included significant elevation changes and travel at 75 mph. Next weekend, we will take a 3-hour trip for a wedding. I would not hesitate to drive long distances in this car. It is much more comfortable, quiet, composed than my wife's previous Ford Fusion Titanium while matching that car's performance. We drove from TN to Santa Fe, NM in the Fusion earlier this summer and that car became uncomfortable and tiring after about 3 hours behind the wheel.