SINGAPORE (April 1): Keppel Corporation, through its wholly-owned subsidiary KepVenture, is investing US$50 million ($67.7 million) for a minority stake in Envision AESC Group.
Envision AESC Group is an intelligent lithium-ion battery company which is 80:20 owned by China’s Envision AESC Holding and Japanese automobile manufacturer Nissan. It recently acquired Automotive Energy Supply Corporation (AESC), a former venture between Nissan Motor Company and Blackstone-owned NEC Group. It also wholly owns NEC Energy Devices, a battery electrode manufacturing company owned by NEC Corporation.
According to Keppel, Envision AESC Group has a capacity of 7.5GWh and a workforce of 1,400 employees across Japan, the US and the UK – and is in the midst of expanding its production into China, while “engaging various global automakers to grow its customer base”.