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Battery company Vehicle Energy Japan to become Nissan subsidiary

Nissan Motor entered into a definitive agreement to acquire shares in Vehicle Energy Japan, an automotive lithium-ion battery manufacturer. Nissan will acquire the shares after the completion of regulatory procedures, including necessary approvals and permissions.

Nissan will acquire all the common shares of Vehicle Energy Japan held by investment company INCJ, Ltd. and subscribe to common shares issued by Vehicle Energy Japan. Following the transaction, Vehicle Energy Japan will become a consolidated subsidiary of Nissan, in which it will hold shares alongside existing shareholders Maxell, Ltd. and Hitachi Astemo, Ltd.

Vehicle Energy Japan has an integrated production system from battery cells to packs, and advanced battery management system technologies. It develops, manufactures, and sells lithium-ion battery cells, battery modules, and battery management systems for hybrid vehicles.

Nissan uses VE-J batteries in the Kicks and Note e-POWER models.

Nissan, in its long-term vision, Nissan Ambition 2030, aims to create significant value beyond mobility by placing electrification at the core of its business strategy. As a key supplier to Nissan, Vehicle Energy Japan will play a crucial role in its ongoing electrification strategy.

The investment will allow Nissan to secure a stable battery supplier and contribute to the development of next-generation batteries with a competitive edge in terms of both performance and cost. Vehicle Energy Japan will provide a stable supply of batteries to Nissan as well as broad range of other customers, with ongoing support from shareholders Maxell and Hitachi Astemo, along with Nissan.

INCJ, Maxell Ltd. (formerly, Maxell Holdings, Ltd.,) and Hitachi Astemo, Ltd. (formerly, Hitachi Automotive Systems, Ltd.) originally invested in Vehicle Energy Japan Inc. (formerly, Hitachi Vehicle Energy, Ltd.) to help Japanese manufacturers succeed in the battery market and maintain and strengthen their competitiveness, understanding the necessity of bringing together Japanese technologies to form a development structure for next-generation batteries.

Three years after the initial investment, Vehicle Energy Japan has established a respectable position in the automotive lithium-ion battery market. INCJ decided that the most appropriate way to support further growth in the business was to transfer all INCJ’s shares in Vehicle Energy Japan to Nissan, which has an electrification strategy.

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