Nissan plans battery plants in UK, Japan - Nikkei

Nissan is ramping up rivalry with Tesla with plans for big new battery plants.

The Japanese firm will team up with Chinese battery maker Envision AESC.

That's according to the Nikkei newspaper.

The project will see investment of over $1.8 billion in two new factories.

They should start turning out cells as soon as 2024.

The goal is to produce enough for 700,000 electric vehicles per year.

In a statement, Nissan said it was accelerating progress on electrification, but refused to confirm plans for new plants.

Batteries are one of the most costly parts of an EV.

Earlier this month Nissan partner Renault said the pair were talking about how they could collaborate to cut costs.

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