AESC Chinese Company Investing $460 million to Build EV Battery Plant with Nissan in Japan

Chinese battery manufacturer AESC announced on Wednesday that with the cooperation of Nissan Motors Co, they will build a battery manufacturing factory with an investment of $460 million dollars (50 billion yen) in Ibaraki Prefecture from Tokyo. This factory will supply batteries to Nissan for its new and upcoming electric vehicles. The AESC is planning to invest 100 billion yen in the plat for long term scenario and this plant will initiate its mass production of batteries in 2024. The joint venture of both Nissan and AESC will produce and develop high-performance lithium-ion batteries for Electric vehicles