• SHARE

Nissan Motor Co. is unveiling plans for a second car-battery factory in as many months, betting that demand for electric vehicles will justify the investment in additional capacity.

Envision AESC and Nissan will jointly operate the plant, to be built in Ibaraki Prefecture with an initial investment of ¥50 billion ($456 million) and annual production capacity of six gigawatt-hours in 2023, according to a document seen by Bloomberg. The plans, to be announced Wednesday, include spending as much as ¥100 billion and boosting output to 18 gigawatt-hours after about five years, or roughly enough for 163,000 Nissan Leaf electric vehicles.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)