Japanese auto major Nissan Motor Co has sold its electric battery business to Chinese investment firm GSR Capital for an undisclosed sum. The business to be sold to GSR includes battery plants in Tennessee, England and Japan. Nissan will first take full control of the business - Automotive Energy Supply Corp - by buying the combined 49% minority stake held by NEC Corp and its subsidiary NEC Energy Devices. NEC Corp said it has approved the sale of its stake. GSR, which has invested in clean technology and electric cars, is also looking to buy a substantial holding in Chile's Sociedad Quimica Y Minera (SQM),
one of the world's biggest
lithium producers, Reuters reported in July.