Nissan to invest $1.8 billion in new EV battery plants

Nissan will invest $1.8 billion in building new EV plants in the UK and Japan. The Japanese automaker will partner with a Chinese-owned battery maker to produce batteries for 700,000 vehicles.

The plants will go live as of 2024, according to a report from Nikkei.

Early rumours have Nissan working with either Contemporary Amperex Technology, otherwise known as CATL or LG Chem. It is not clear who is the leader at the moment, nor has the company commented on negotiations or partnerships. One thing to note is that these two companies, along with Panasonic, account for two-thirds of the current battery market.

If the report is correct, Envision AESC will run the plant. The batteries will support the Renault-Nissan-Mitsubishi alliance.

Nissan announced earlier that the company wants to be carbon neutral by 2050. While at the same time, plants to have 100% of auto sales be electric by the early 2030s.

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