Envision has vision for Wuxi battery plant

Shanghai-based digital energy company Envision Group plans to develop an electric vehicle battery plant in Wuxi, Jiangsu province, following the acquisition of a controlling stake in Nissan's electric battery business.

The company is taking the step to further reduce the cost of lithium-ion batteries and serve the fast-growing Chinese market for electric vehicle batteries and stationary lithium-ion batteries.

The Wuxi plant will give the company a unique presence in all major global automotive markets, said Zhang Lei, CEO of Envision Group, the country's second-largest turbine maker.