Nissan will acquire automotive battery firm Vehicle Energy

Japan's Nissan Motor Co said on Wednesday it had agreed to acquire all the common shares in Vehicle Energy Japan Inc held by the lithium-ion battery maker's biggest shareholder, Qazet.az reports according to company.

Nissan added that after the acquisition of the shares held by the Innovation Network Corporation of Japan, a state-backed fund, Vehicle Energy Japan will become its consolidated subsidiary, in which it will hold shares alongside existing shareholders Maxell Ltd and Hitachi Astemo Ltd.