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Nissan agrees to sale of car battery unit to China's Envision Group

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Nissan agrees to sale of car battery unit to China's Envision Group

Nissan agrees to sale of car battery unit to China's Envision Group
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Toru Hanai(Reuters)
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TOKYO (Reuters) - Nissan Motor Co <7201.T> said on Friday it agreed to sell its electric car battery unit to Chinese renewable energy firm Envision Group for an undisclosed sum.

The announcement comes after Nissan cancelled a potential $1 billion (£768.64 million) sale of the unit to GSR Capital last month, saying the Chinese investment firm lacked the funds to make the purchase.

(Reporting by Chris Gallagher and Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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