Nissan to acquire automotive battery firm Vehicle Energy Japan

(Corrects to clarify Nissan will buy all shares from INCJ)

TOKYO (Reuters) – Japan’s Nissan Motor Co said on Wednesday it has agreed to acquire Vehicle Energy Japan Inc, a lithium-ion battery maker.

Nissan will acquire all the common shares of the company held by the Innovation Network Corporation of Japan (INCJ), a state-backed fund, and make Vehicle Energy Japan a consolidated subsidiary, the automaker said in a statement, without specifying the financial details of the deal.

(This story refiles to clarify Nissan will buy all shares from INCJ)

(Reporting by Satoshi Sugiyama; Editing by Muralikumar Anantharaman)

Reuters

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