August 3, 2018 / 8:30 AM / 13 days ago

Nissan agrees to sale of car battery unit to China's Envision Group

TOKYO, Aug 3 (Reuters) - Nissan Motor Co said on Friday it agreed to sell its electric car battery unit to Chinese renewable energy firm Envision Group for an undisclosed sum.

The announcement comes after Nissan cancelled a potential $1 billion sale of the unit to GSR Capital last month, saying the Chinese investment firm lacked the funds to make the purchase. (Reporting by Chris Gallagher and Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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