Two Japanese automakers today announced measures to boost their battery procurement capacity, with Nissan Motor Co. saying it will acquire one of its key suppliers as it aims to accelerate the development of electric vehicles. increase.

The announcement comes at a time when automakers around the world are stepping up efforts to roll out less polluting electrified vehicles amid tougher environmental regulations, Kyodo News reported.

Nissan announced that it will acquire vehicle energy Japan Co., Ltd., a lithium-ion battery manufacturer, for an undisclosed amount in order to secure a stable supply of batteries and promote the development of next-generation batteries.

The automaker said it would buy a 47% stake in Vehicle Energy Japan held by state-backed fund INCJ Ltd. and more shares issued by the battery maker.

Vehicle Energy, based in Hitachinaka City, Ibaraki Prefecture, currently supplies lithium-ion batteries for Nissan’s flagship compact car Note.

According to Nissan, the transaction will make Vehicle Energy a consolidated subsidiary of Nissan, while existing shareholders, another battery maker Maxell and auto parts maker Hitachi Astemo, will continue to hold shares.

Honda also announced on Wednesday that its China unit will set up a joint venture with local automakers Dongfeng Motor and Guangzhou Automobile Group at the end of this month to jointly source EV batteries.

The Japanese automaker said it will step up its partnership with Chinese auto battery giant Hyundai New Energy Technology Co., Ltd. (CATL) to strengthen its battery supply chain.

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