Nissan has announced that it has entered into a sale and purchase agreement with GSR Capital (a private investment fund) for Nissan’s electric-battery operations and production facilities.

The agreement covers Nissan’s battery subsidiary, Automotive Energy Supply Corporation (AESC), as well as battery-manufacturing operations in Sunderland (owned by Nissan Motor Manufacturing (UK) Ltd) and Smyrna, Tennessee (owned by Nissan North America Inc).

The assets sold to GSR will also include part of Nissan’s Japanese battery development and production engineering operations located in Oppama, Atsugi and Zama.

Sonny Wu, chairman of GSR Capital, said: “The acquisition of AESC represents an important step for us in the ‘new energy’ vehicle industry.

“We plan to further invest in R&D, expand existing production capacity in the USA, the UK and Japan, and establish new facilities in China and Europe.”

The workforces at all facilities covered by the deal, including the production plant in Sunderland, will be kept on.